econ week 9 notes
econ week 9 notes ECON 104
Popular in Introductory Macroeconomic Analysis and Policy, Goffe
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This 1 page Class Notes was uploaded by Evangelos Katradis on Sunday April 10, 2016. The Class Notes belongs to ECON 104 at Pennsylvania State University taught by Goffe in Spring2015. Since its upload, it has received 16 views.
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Date Created: 04/10/16
Econ week 9 notes Business cycle periods of expansion and recession Causes of recession 1) oil shock 2) monetary policy shocks 3) financial shocks 4) fiscal policy shocks post war (most common) oil shocks, monetary shocks M1 $ supply. sum of currency in circulation, checking account deposits in banks and holdings of travelers checks M2 the broader definition of $ supply include M1 plus savings account deposits Fiscal least common cause of US recessions current state of economy real GDP < potential GDP Depression bad recession Underemployment employed part time but want full time employment Marginally Attached looked for a job in the past 12 months but not in the past month
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