Question 1

Whats defention of terms:
-crisis

Accepted Answer

the decline of profits in a capitalist system

Question 2

Whats defention of terms:
-expectations

Accepted Answer

what people think will happen

Question 3

Whats defention of terms:
-profit squeeze

Accepted Answer

the declining growth of demand and the rising growth of costs, which create the nutcracker effect that lowers profits; the lower profits lead to less investment

Question 4

Whats defention of terms:
-prosperity

Accepted Answer

The answer of Whats defention of terms:
-prosperity...

Question 5

Whats defention of terms:
-real business cycle theory

Accepted Answer

The answer of Whats defention of terms:
-real business cycle theory...

Question 6

Whats defention of terms:
-recession

Accepted Answer

The answer of Whats defention of terms:
-recession...

Question 7

Whats defention of terms:
-recovery

Accepted Answer

The answer of Whats defention of terms:
-recovery...

Question 8

Compare and contrast the conservative and progressive views of the business cycle, particularly the nature and costs of unemployment.
-What are sources of disturbances to the economy according to conservative economists? Why is there unemployment?

Accepted Answer

The answer of Compare and contrast the conservative and progressive...

Question 9

Compare and contrast the conservative and progressive views of the business cycle, particularly the nature and costs of unemployment.
-What are sources of disturbances to the economy according to progressive ?economists?

Accepted Answer

The answer of Compare and contrast the conservative and progressive...

Question 10

Compare and contrast the conservative and progressive views of the business cycle, particularly the nature and costs of unemployment.
-What are the differences in the explanations by conservative and progressive ?economists?

Accepted Answer

The answer of Compare and contrast the conservative and progressive...

Question 11

Explain why conservative economists argue that, left alone, the economy will adjust back to full-employment equilibrium.
-According to conservative economists, how will the economy recover from a shock?

Accepted Answer

The answer of Explain why conservative economists argue that, left...

Question 12

Explain why conservative economists argue that, left alone, the economy will adjust back to full-employment equilibrium.
-Describe the process of recovery used by progressive economists.

Accepted Answer

The answer of Explain why conservative economists argue that, left...

Question 13

Explain why progressive economists argue that business cycles are driven by the internal workings of capitalism.
-Identify the "internal process" that drives the economy from boom to bust and back again.

Accepted Answer