Macro Economy

As of December of 2016, where were we in the business cycle?

If the inflation rate stays at 7% per year, the price level will double in

Which industries are hit first and hardest during a recession?

The worst downturn of of the business cycle in US history was during this time period.

It is inflation blamed on producers increasing prices to cover rising production costs.

Inflation rates of 50% or more.

Who is hurt most by unanticipated inflation?

According to Okun's Law, every 1% that unemployment >the natural rate leads to

In terms of spending, it is the largest sector in the macro economy.

This government agency reports statistics regarding unemployment, inflation, and GDP.

It is the natural rate of unemployment in the US.

It is unemployment that directly related to changes in the business cycle.

The natural rate of unemployment =