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

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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
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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.-...
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