Assignment: Essay on Economic
Writing two pages using the below question. The writing style is not supposed to be top notch because I'm an internatinal student, but i want it to explain the questions throughly.
1. Explain the typical dynamics of the Business Cycle in a free market or mixed economic system.
2. How did we define a Recession in class?
3. Why does Inflation prove normal and expected phenomenon in a free market system?
4. In what ways could we potentially double count in terms of GDP metrics?
5. What's the difference between GDP and Real GDP?
6. When a person buys a new home, why does it not fit into the Persona/ Consumption Expenditures category?
7. How can Net Exports deduct from the GDP count? Explain.
8. Why does the problem of discouraged workers prove a social issue?
9. Why does frictional unemployment alwa ys exist?
10. Describe how Full Employment can occur.