tailieunhanh - Lecture Principles of economics (2e): Chapter 17 - Robert H. Frank, Ben S. Bernanke

This chapter identify the four phases of the business cycle; explain the primary characteristics of recessions and expansions; define potential output, measure the output gap, and analyze an economy's position in the business cycle; define the natural rate of unemployment and relate it to cyclical unemployment; apply okun's law to analyze the relationship between the output gap and cyclical unemployment; discuss the differences between how the economy operates in the short run and the long run. | Lecture Principles of economics 2e Chapter 17 - Robert H. Frank Ben S. Bernanke

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