Find the output response, c(t), for each of the systems shown in Figure P4.1. Also find the time constant, rise time, and settling time for each case. [Sections: 4.2, 4.3]
Chapter 12: Short-Run Fluctuations 12.1 – Economic Fluctuations and Business Cycles Economics Fluctuations/Business Cycle – short-run changes in the growth of GDP. o Co Movement of many aggregate macroeconomic variables o Limited Predictability of Fluctuations. o Persistence in the Rate of Economic Growth. Economic Expansions – periods between recessions. Great Depression – started 1929. Depression – prolonged recession with an unemployment rate of 20 percent or more. 12.2 – Macroeconomic Equilibrium and Economic Fluctuations Sources of fluctuation: o Real Business Cycle Theory – emphasizes changing productivity and technology. o Keynesian Theory – changing expectations about the future. o Financial and Monetary Theories – emphasize change in prices and interest rates. Animal Spirits – psychological factors that lead to changes in the mood of consumers or businesses. Self-Fulfilling Prophecy – situation when expectations of an event induce actions that lead to that event. Chapter 12: Short-Run Fluctuations 12.1 – Economic Fluctuations and Business Cycles Economics Fluctuations/Business Cycle – short-run changes in the growth of GDP. o Co Movement of many aggregate macroeconomic variables o Limited Predictability of Fluctuations. o Persistence in the Rate of Economic Growth. Economic Expansions – periods between recessions. Great Depression – started 1929. Depression – prolonged recession with an unemployment rate of 20 percent or more. 12.2 – Macroeconomic Equilibrium and Economic Fluctuations Sources of fluctuation: o Real Business Cycle Theory – emphasizes changing productivity and technology. o Keynesian Theory – changing expectations about the future. o Financial and Monetary Theories – emphasize change in prices and interest rates. Animal Spirits – psychological factors that lead to changes in the mood of consumers or businesses. Self-Fulfilling Prophecy – situation when expectations of an event induce actions that lead to that event.
