Jul 12, 2017 Others

Aggregate Demand, Supply and Fiscal Policy

This paper concentrates on the primary theme of Aggregate Demand, Supply and Fiscal Policy in which you have to explain and evaluate its intricate aspects in detail. In addition to this, this paper has been reviewed and purchased by most of the students hence; it has been rated 4.8 points on the scale of 5 points. Besides, the price of this paper starts from £ 40. For more details and full access to the paper, please refer to the site.

Aggregate Demand, Supply and Fiscal Policy


Use concepts from the modular background readings as well as any good-quality resources you can find. Be sure to cite all sources within the text and provide a reference list at the end of the paper.

Length: 3-4 pages double-spaced and typed. Title page should consider separate.


ECO 202 WK 2 case Aggregate demand, supply and fiscal policy Name Course Instructor Date Okun`s law Okun’s law implies that a 1% rise in unemployment rate results in a 2% slow down in the GDP given as 2(unemployment rate- natural employment). The employment rate affects income that is related to the GDP, and a 4% GDP growth would result in unemployment of 2%. Okun’s law represents the changes in the output gap, where the economy produces more than the full employment during periods of boom and vice versa (Kennedy, 2000). The decline of income, employment, and trade in a business cycle A decline in the total output, employment, income as well as trade for six months or more months indicates that the economy is in a recession (Investopedia.com, 2015). The real variables indicate the health of the economy and since there is a contraction from slowdown in the economy. Typically, negative economic growth for two or more consecutive quarters indicates the onset of a recession. The small businesses are less resilient during recessions because they do no


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