Oakland Schools Economics Moodle, Unit 3, Lesson 2
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Oakland Schools Economics Moodle, Unit 3, Lesson 2

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Oakland Schools Economics Moodle, Unit 3, Lesson 2

Oakland Schools Economics Moodle, Unit 3, Lesson 2

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  • Indicate MAJOR changes economic growth (real GDP) above or below “normal” levels. <br /> The peak, a high point in economic growth, is followed by a decline until the lowest point is reached called a trough. <br /> A recovery occurs as the economy starts expanding again, and prosperity occurs when economic growth exceeds the previous peak. <br />

Oakland Schools Economics Moodle, Unit 3, Lesson 2 Oakland Schools Economics Moodle, Unit 3, Lesson 2 Presentation Transcript

  • Economics The Business Cycle Unit 3, Lesson 2
  • What is the Business Cycle? The business cycle is a period of economic expansion followed by a period of contraction
  • Annual Percentage Change in U.S. Real GDP (economic Growth) Since 1929 View slide
  • It’s a Recession, but is it a Depression? Recession– This is an economic term meaning 2 consecutive quarters (6 months of negative growth rates) Depression– This is an historical term used to characterize a period in history of an extended and deep recession. View slide
  • Different Impact on States – Intensity of the business cycle varies from region to region across the U.S. – Economically diverse regions usually do better in a recession
  • Business Cycles in a Global Economy Market economies around the world often move together because of so much trade and interdependence.
  • Measuring the Business Cycle: Economic Indicators A set of key economic variables that economists use to predict a new phase of the business cycle and identify trends in the economy
  • Types of Economic Indicators Leading Indicators: predict or show an upcoming contraction or expansion – Stock Market – Building Permits – Housing and Auto Sales – Earnings – Personal Savings – Consumer Expectations – Lending – Energy Costs
  • Types of Economic Indicators Lagging Indicators follow or trail changes in overall economic activity – Consumer Prices – Unpaid loans or indebtedness – Unemployment – Interest Rates – Retail Sales