Describe recession and expansion.

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Answer 1

Question

Definition Definition Increase in the amount of goods and services produced by a country in a given period of time compared to an earlier period. Economic growth is generally coupled with a rise in national income or the purchasing power of individuals. It is often measured in terms of the increase in a country's gross domestic product (GDP), or the overall monetary value of all the complete or final services and goods that a country can produce within its domestic boundaries in a specific period.

Chapter 12, Problem 1RQ

To determine

Describe recession and expansion.

Expert Solution & Answer

Explanation of Solution

When the economy is reach it peaks, the economic activities reach its heights. Then it begins to fall. In the period of recession, the economic activities go in a slow motion. This is because of the decreased employment, productivity, and money growth. However, the economy will survive the situation through the adoption of macroeconomic policies. Then the economic activities improve better than the recession period. Thus, it can be said that the beginning point of recession is a peak and it ends at the trough situation. Then the economy gradually moves to the expansion stage. In the post war period, due to the adoption of many policies, Country U entered in to an expansionary phase. Also an expansionary stage has been longer on average than a recession.

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Answer 2

Question

Definition Definition Increase in the amount of goods and services produced by a country in a given period of time compared to an earlier period. Economic growth is generally coupled with a rise in national income or the purchasing power of individuals. It is often measured in terms of the increase in a country's gross domestic product (GDP), or the overall monetary value of all the complete or final services and goods that a country can produce within its domestic boundaries in a specific period.

Chapter 12, Problem 1RQ

To determine

Describe recession and expansion.

Expert Solution & Answer

Explanation of Solution

When the economy is reach it peaks, the economic activities reach its heights. Then it begins to fall. In the period of recession, the economic activities go in a slow motion. This is because of the decreased employment, productivity, and money growth. However, the economy will survive the situation through the adoption of macroeconomic policies. Then the economic activities improve better than the recession period. Thus, it can be said that the beginning point of recession is a peak and it ends at the trough situation. Then the economy gradually moves to the expansion stage. In the post war period, due to the adoption of many policies, Country U entered in to an expansionary phase. Also an expansionary stage has been longer on average than a recession.

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Answer 3

Question

Definition Definition Increase in the amount of goods and services produced by a country in a given period of time compared to an earlier period. Economic growth is generally coupled with a rise in national income or the purchasing power of individuals. It is often measured in terms of the increase in a country's gross domestic product (GDP), or the overall monetary value of all the complete or final services and goods that a country can produce within its domestic boundaries in a specific period.

Chapter 12, Problem 1RQ

To determine

Describe recession and expansion.

Expert Solution & Answer

Explanation of Solution

When the economy is reach it peaks, the economic activities reach its heights. Then it begins to fall. In the period of recession, the economic activities go in a slow motion. This is because of the decreased employment, productivity, and money growth. However, the economy will survive the situation through the adoption of macroeconomic policies. Then the economic activities improve better than the recession period. Thus, it can be said that the beginning point of recession is a peak and it ends at the trough situation. Then the economy gradually moves to the expansion stage. In the post war period, due to the adoption of many policies, Country U entered in to an expansionary phase. Also an expansionary stage has been longer on average than a recession.

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Answer 4

Question

Definition Definition Increase in the amount of goods and services produced by a country in a given period of time compared to an earlier period. Economic growth is generally coupled with a rise in national income or the purchasing power of individuals. It is often measured in terms of the increase in a country's gross domestic product (GDP), or the overall monetary value of all the complete or final services and goods that a country can produce within its domestic boundaries in a specific period.

Chapter 12, Problem 1RQ

To determine

Describe recession and expansion.

Expert Solution & Answer

Explanation of Solution

When the economy is reach it peaks, the economic activities reach its heights. Then it begins to fall. In the period of recession, the economic activities go in a slow motion. This is because of the decreased employment, productivity, and money growth. However, the economy will survive the situation through the adoption of macroeconomic policies. Then the economic activities improve better than the recession period. Thus, it can be said that the beginning point of recession is a peak and it ends at the trough situation. Then the economy gradually moves to the expansion stage. In the post war period, due to the adoption of many policies, Country U entered in to an expansionary phase. Also an expansionary stage has been longer on average than a recession.

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Subscribe now to access step-by-step solutions to millions of textbook problems written by subject matter experts!

Answer 5

Chapter 12, Problem 1RQ

To determine

Describe recession and expansion.

Expert Solution & Answer

Explanation of Solution

When the economy is reach it peaks, the economic activities reach its heights. Then it begins to fall. In the period of recession, the economic activities go in a slow motion. This is because of the decreased employment, productivity, and money growth. However, the economy will survive the situation through the adoption of macroeconomic policies. Then the economic activities improve better than the recession period. Thus, it can be said that the beginning point of recession is a peak and it ends at the trough situation. Then the economy gradually moves to the expansion stage. In the post war period, due to the adoption of many policies, Country U entered in to an expansionary phase. Also an expansionary stage has been longer on average than a recession.

Answer 6

Chapter 12, Problem 1RQ

To determine

Describe recession and expansion.

Expert Solution & Answer

Explanation of Solution

When the economy is reach it peaks, the economic activities reach its heights. Then it begins to fall. In the period of recession, the economic activities go in a slow motion. This is because of the decreased employment, productivity, and money growth. However, the economy will survive the situation through the adoption of macroeconomic policies. Then the economic activities improve better than the recession period. Thus, it can be said that the beginning point of recession is a peak and it ends at the trough situation. Then the economy gradually moves to the expansion stage. In the post war period, due to the adoption of many policies, Country U entered in to an expansionary phase. Also an expansionary stage has been longer on average than a recession.

Answer 7

Chapter 12, Problem 1RQ

To determine

Describe recession and expansion.

Answer 8

Expert Solution & Answer

Explanation of Solution

When the economy is reach it peaks, the economic activities reach its heights. Then it begins to fall. In the period of recession, the economic activities go in a slow motion. This is because of the decreased employment, productivity, and money growth. However, the economy will survive the situation through the adoption of macroeconomic policies. Then the economic activities improve better than the recession period. Thus, it can be said that the beginning point of recession is a peak and it ends at the trough situation. Then the economy gradually moves to the expansion stage. In the post war period, due to the adoption of many policies, Country U entered in to an expansionary phase. Also an expansionary stage has been longer on average than a recession.