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Contents of real GDP and describeing US's unemployment, interest rate and Inflation for the past 30 years.

1.(a) describe what is measured by Real GDP.

(b) describe when a recession is over, do people begin to immediately feel the effects of an efficient economy? Use the experience of the most recent recession to justify your answer.

2. Describe the relationship between each of the following variables based on the experience of the U.S. economy over the past 30 years.

(a) GDP and the unemployment rate:

(b) The interest rate and the inflation rate:

Business Economics, Economics

  • Category:- Business Economics
  • Reference No.:- M922647

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