1Economics 102Lecture 15: Economic FluctuationsLECTURE 15ECONOMIC FLUCTUATIONS1Economic Fluctuations❧In 1982 the U.S. economy was in recession. The unemployment rate rose to over 10%, the highest rate since the Great Depression. ❧What cause the economy to enter recession?❧How did the economy recover?LECTURE 15ECONOMIC FLUCTUATIONS2In this lecture, look for the answers to this question:❧How does the model of aggregate demand and aggregate supply explain economic fluctuations?
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