Slide 1© 2010 Pearson Addison-Wesley Slide 2 Slide 3 Inflation Cycles In the long run, inflation occurs if the quantity of money grows faster than potential GDP. In the…
Slide 1 © 2010 Pearson Education CHAPTER 1 Slide 2 © 2010 Pearson Education Slide 3 In the 1970s, when inflation was raging at a double-digit rate, Arthur M. Okun proposed…
Slide 1 Slide 2 29 U.S. INFLATION, UNEMPLOYMENT, AND BUSINESS CYCLE Slide 3 © 2012 Pearson Addison-Wesley Slide 4 Inflation Cycles we distinguish two sources of inflation:…
Slide 1 © 2010 Pearson Education Canada Slide 2 Slide 3 The 1920s were years of unprecedented prosperity. Then, in October 1929, the stock market crashed. Overnight, stock…