ECO 210 Chp 7 HA

ECO 210 Chp 7 HA - 3.1 a high point of economic activity = Business Cycle Peak b low point of economic activity = Business Cycle Trough c period

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

View Full Document Right Arrow Icon
Macroeconomics 210 Chapter 7: Economic Growth, The Financial System and Business Cycles Homework Assignment Chapter 7 (pg. 234 #1.3, 1.9; pg. 237 3.1) 1.3) The two key factors that cause labor productivity to increase over time are 1) the quantity of capital per hour worked and 2) the level of technology. 1.9) 70/1.9 = 36.84 years to double real GDP per capita
Background image of page 1
This is the end of the preview. Sign up to access the rest of the document.

Unformatted text preview: 3.1) a) high point of economic activity = Business Cycle Peak b) low point of economic activity = Business Cycle Trough c) period between the high point of economic activity and the following low point = A Recession Phase d) period between the low point of economic activity and the following high point = An Expansion Phase...
View Full Document

This note was uploaded on 01/14/2012 for the course ECO 210 taught by Professor Morvey during the Fall '10 term at Piedmont TC.

Ask a homework question - tutors are online