July 2014
Beginner
384 pages
8h 39m
English
CHAPTER19
Recessions and Depressions
In This Chapter
![]()
Booms and busts, or economic expansions and contractions, are the hallmark of the business cycle. While the booms will inevitably end—sometimes painfully when sudden and unexpected—living through a boom is not all bad, since they are accompanied by low unemployment and high output. If they spark inflation, the central bank can usually increase interest rates to control the rise in prices. The aftermath—the bust—is the topic of this ...