| peak capital flight () business cycle trough unemployment benefit Okuns law minimum wage law meaning of inflation measurement of inflation shoe-leather cost moderate inflation hyperinflation inflation rate cost-push inflation | expansion recession stagflation underground economy hidden unemployment public works programs procyclical seasonal variations unemployment insurance duration of unemployment trade union expected inflation anticipated inflation redistributive effects of inflation creeping inflation borrowers per unit production costs debtors and creditors demand-pull inflation |
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13. What is the economic cost of unemployment and how is this cost measured?
14. Why do some economists prefer the term,,business fluctuations to,,business cycle?
15. What groups benefit from and what groups are hurt by inflation?
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6. Which one of the following is not one of the four phases of an idealized business cycle?
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3. If the price index was 120 last year and is 141 this year, what was this years rate of inflation? What is the,,rule of 70? How long would it take for the price level to double in inflation persisted at a) 6; b)10; and 22,3 percent per year?
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2. . . .: , 2005. . 377-396; 407 417.
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