Chapter 10
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10 Terms
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Business cycles
The fluctuation away from the aimed potential annual Y.
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Economic boom
output growth for >2quarters
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Economic peak
Max level of economic output, high inflation
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recession and trough
macrocrisis, decrease Y, increase U for >2quarters
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depression
longterm economic downturn >-10% real econ growth >2years period.
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economic bubble
significant increase in P of certain asset
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economic bubble - burst
point beyond peak, sig decrease
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automatic stabiliser
adjustment system to ease the impact of economic down turn involving firm Inv and Hh C rate
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Fiscal stimulus
Set of policies those boosts economic recovery
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stagflation
Economic downturn with high U and inflation via decrease in AD (S chain)
Note 
Flashcards (240)