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Principles of Macroeconomics (Mind...

8th Edition
N. Gregory Mankiw
Publisher: Cengage Learning
ISBN: 9781305971509

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BuyFindarrow_forward

Principles of Macroeconomics (Mind...

8th Edition
N. Gregory Mankiw
Publisher: Cengage Learning
ISBN: 9781305971509
Chapter 20.1, Problem 1QQ
Textbook Problem
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List and discuss three key facts about economic fluctuations.

To determine
The three key facts about economic fluctuations.

Explanation of Solution

The economic fluctuations are the up and down fluctuations in the national income of the economy which represents the level of growth in the economy by the upward fluctuation or the level of contraction in the economy with its downward fluctuation. The economic fluctuations are very famous that have caused many depressions in the world economy until today. The main three key facts about the economic fluctuations are as follows:

  1. 1. They are irregular and unpredictable: The economic fluctuations are irregular and unpredictable in nature. Many variables determine the fluctuations and from observing the GDP of any economy over many years, it can be noted that they occur at irregular times which makes them unpredictable too.
  2. 2...

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