Macroeconomics 1
Macroeconomics 1
Macroeconomics 1
Kartei Details
| Karten | 99 |
|---|---|
| Sprache | English |
| Kategorie | VWL |
| Stufe | Universität |
| Erstellt / Aktualisiert | 06.01.2021 / 06.01.2021 |
| Lizenzierung | Keine Angabe |
| Weblink |
https://card2brain.ch/box/20210106_macroeconomics_1
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Recessions (or contracations)
Periods of economic downturn when output and employment are falling.
Expansions (or recoveries)
Periods of economic upturn when output and employment are rising.
Business Cycle
The short-run alternation between recessions and expansions.
Business Cycle Peak
Point at which economy turns from expansion to recession
Business Cycle Trough
Point at which economy turns form recession to expansion
Inflation
(Drawbacks?)
A rising overall level of prices.
Drawbacks: Discourages people from saving (cash loses value over time).
Deflation
(Drawbacks?)
A falling overall level of prices.
Drawbacks: Discourage people from spending (holding money back because it gains value over time)
Price Stability
When overall level of prices changes slowly or not at all
