Unformatted text preview: • changes in the quality of labor or capital • changes in the availability of raw materials • unusually good or bad weather • changes in government regulations affecting production Economic booms result from beneficial productivity shocks and recessions are caused by adverse productivity shocks. Explaining Past Business Cycle Episodes • Vietnam War buildup: 1964-70 • negative supply shocks: 1973-75 and 1978-80 • credit crunch: 1990-91...
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This note was uploaded on 11/22/2011 for the course FIN FIN1100 taught by Professor Bradrifkin during the Fall '09 term at Broward College.
- Fall '09
- Personal Finance