About this document
Understanding Macroeconomics Basics by Chi-Wa CW is a document available to read on EtoBox.
This chapter provides an overview of macroeconomics and examines key macroeconomic variables in U.S. history including output, unemployment, prices, and inflation. It finds that real GDP grew at an average annual rate of 3.5% from 1870 to 2005, with periods of recession when growth slowed and booms when it accelerated. The unemployment rate averaged 6.3% but rose significantly during recessions like the Great Depression. Prices generally rose since World War II, while earlier they often fell for long period
- Author
- Chi-Wa CW
- Language
- EN