Week 5- Notes - -Emerging countries are becoming more...

Info iconThis preview shows page 1. Sign up to view the full content.

View Full Document Right Arrow Icon
Week 5 – Notes - Aid does not help Africa because of the corrupt government; aid only helps in countries with stable politics. - Recession is when there are two quarters of negative growth. - Recession is decline in the growth rate of output, not decline in output. - Negative relation between GDP and unemployment. - Recession can be caused by domestic factors or external factors - The global factor has become less influential. - OECD were affected heavily by the 2008
Background image of page 1
This is the end of the preview. Sign up to access the rest of the document.

Unformatted text preview: -Emerging countries are becoming more independent and do not get affected by the US.-Federal Reserve Bank cares about inflation and unemployment; decrease interest rates will lead to decrease in unemployment and increase inflation; if one is affected so will the other.-During recession, high unemployment and low inflation.-During expansion, low unemployment and higher inflation.-1982, worst and longest recession before the 2008 recession.-...
View Full Document

{[ snackBarMessage ]}

Ask a homework question - tutors are online