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| Topic: |
Business
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| Number of pages / Number of words: |
7 / 1702 |
Essay's paper body
The economy experienced neither significant unemployment nor inflation. Some observes felt that the United States had entered a “new ear†in which business cycle was dead. But that wishful thinking came to an end in March 2001, when the economy entered its ninth recession since 1950. Since 1970, real GDP has declined in the United States in five periods: 1973-1975, 1980, 1981-1982, 1990-1991 and
2001...
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Since 1970, real GDP has declined in the United States in five periods: 1973-1975, 1980, 1981-1982, 1990-1991 and
2001.†(McConnell & Brue, 2004).
Unemployment Rates
The unemployment rate is also affected by monetary policy. “Unemployment that is above the natural rate involves great economic and social costs...
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