business cycles were thought to be extremely regular‚ with predictable durations‚ but today they are widely believed to be irregular. Economic growth is not a steady phenomenon; rather‚ it tends to exhibit a pattern as follows: 1. Contraction 2. Recession 3. Expansion 4. Boom 1. Contraction: A phase of the business cycle in which the economy as a whole is in decline. More specifically‚ contraction occurs after the business cycle peaks. For most people‚ a contraction in the economy can be source
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the rise and fall of economic activity relative to the long-term growth trend of the economy. U.S. Economic Fluctuations has two phases one is the periods of expansion and other is the contraction. The period of contraction includes recession and depression‚ Recession is mild contraction‚ a period of decline in total output and employment usually lasting at least two consecutive quarters. Depression is sharp decrease in the nation’s total production accompanied by high unemployment lasting more than
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THE Economic Crisis IMPACT ON THE CARIBBEAN Economic Crisis?In any complex system‚ a crisis is a period of where the system functions very poorly‚ warranting immediate corrective action. In an economy therefore‚ a crisis can be described as that period of dismal economic performance. During this time‚ the value of institutions‚ especially financial institutions‚ drops at unprecedented speeds and everything seems to be valueless. Production is low and often fails to meet the level of demand.
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com. Flawed housing data might mask depth of woes. Retrieved from Eye on the Economy msnbc.com Charles Riley. (2011). How has the Recession Impacted Families Financially over time. B & B Bublitz & Baro‚ LLC. Retrieved from http://www.bankruptcylawyermo.com/2011/04/how-has-the-recession-impacted-families- financially-over-time.shtml Rose Colvin. (2009). U.S Recession Fuels Crime Rise. Reuters. Retrieved from http://www.reuters.com/article/2009/01/27/us-usa-economy-crime- idUSTRE50Q6FR20090127
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parts of Europe and Britain. The recession affected much of every country’s economy. In the Philippines‚ it was declared that the economy is stable‚ though not really‚ is not yet in recession. Some of the renouned economists in the country sited their views and opinions regarding this matter. Most of them said that it really downgraded the Philippine economy‚ yet there are things which take the positive side of this dreadful phenomenon. The global economic recession affected badly the Philippine economy
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to an online business. “Before the company was profitable again in 2007‚ Successories’s strategies were cutting back on the amount of color in catalogs‚ discontinuing unprofitable product lines‚ and operating more efficiently. Then the economic recession made the company struggle again.” And there were no more options to cut costs. The long-term lease of its office space and the catalog costs which included paper and postage made Successories hard to survive again. Going e-commerce would definitely
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Phases of the Business Cycle RECESSION TROUGH RECOVERY Level of business activity PEAK Time Level of business activity PEAK H T OW D R G N E R T Time √ Peak or prosperity phase: Real output in the economy is at a high level Employment is high Domestic output may be at its capacity Inflation may be high. High level of effective demand. Rising interest rates Level of business activity RECESSION H T OW D R G N E R T Time √ Contraction or recession phase: Real output is decreasing
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nationwide recession that triggered budget problems in at least forty-five states. -The 2001 recession was the fourth recession in 30 years. After past recessions budget experts recommended establishing a “rainy-day fund” (saving funds during boom times in order to cushion the shocks of economic busts). Wisconsin established the fund but never put money into it. -During the 1990-1991 recession Wisconsin’s fiscal stress was ranked the lowest among the 50 states. During the 2001 recession Wisconsin
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lower-than-normal growth in real GDP. The correlation between these two variable is -0.0363. #3. Quits is a measure of the percentage of people voluntarily leaving their employment instead of being laid off. Quits fall in recession. Laid offs and discharges increase during recessions. Hires decrease during
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Four Phases of Business Cycle Business Cycle (or Trade Cycle) is divided into the following four phases :- Prosperity Phase : Expansion or Boom or Upswing of economy. Recession Phase : from prosperity to recession (upper turning point). Depression Phase : Contraction or Downswing of economy. Recovery Phase : from depression to prosperity (lower turning Point). Diagram of Four Phases of Business Cycle The four phases of business cycles are shown in the following diagram :- The business
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