3 1102014 gdp goes down during war times we had a

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Unformatted text preview: 14 GDP goes down during war times. We had a recession from 2007-2008. We are now considered out of it. 40.0 30.0 20.0 10.0 2011 2007 2003 1999 1995 1991 1987 1983 1979 1975 1971 1967 1963 1959 1955 1951 1947 1943 1939 1935 1931 0.0 -10.0 -20.0 -30.0 4 1/10/2014 Economy expands, higher wages, households buy more goods and services, productivity in companies and GDP grow (vacationing, buying cars: expanding economy) Economy Expands Productivity (companies & GDP) grow Workers Earn Higher Wages Households Buy More Economy contracts, workers earn less wages and more companies start to lay off, households buy less, productivity in companies and GDP declines. Economy Contracts Productivity (compani...
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