ECN 301 Chapter Notes - Chapter 1: Deflation, Business Cycle, Invisible Hand

• School: Ryerson University
• Department: Economics
• Course: ECN 301
• Professor: Zohra Jamasi

Document Summary

For example: the most volatile period in the history of canadian output was between. 1914 and 1945, a period marked by two world wars and the two deepest recessions in. Canadian history, the second of which was so severe that it is known as the great. During the great depression the unemployment rate in canada exceeded. Inflation is an ongoing increase in the prices of goods and services: deflation is an ongoing decrease in prices. Fiscal policy choices also matter for funding health care, education, and social assistance. So too is the rate of return earned on savings toward retirement: the crucial role of monetary policy choices in ensuring the stability of financial institutions. Instead, macroeconomists conduct their experiments using their economic models. I(cid:374) fa(cid:272)t, (cid:449)e"ll (cid:271)e (cid:272)o(cid:374)du(cid:272)ti(cid:374)g (cid:373)a(cid:374)(cid:455) su(cid:272)h e(cid:454)peri(cid:373)e(cid:374)ts i(cid:374) this (cid:271)ook: the experiments conducted by macroeconomists are called comparative static experiments, they are conducted in the following way.