Posted: August 7th, 2013
The Current State of the Economy and Unemployme/Who Benefits and Who Loses from Inflation?
The Current State of the Economy and Unemployme/Who Benefits and Who Loses from Inflation?
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Part 1: The Current State of the Economy and Unemployment
Imagine a scenario where there is a decline in aggregate demand. Identify which part of the business cycle is part of a decline in aggregate demand.
Gross Domestic Product (GDP) measures the amount of
new production. A change in the amount of new production affects employment. Describe what would happen to GDP, the unemployment rate and the
inflation rate if there is a decline in aggregate demand.
Part 2: Who Benefits and Who Loses from Inflation?
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