1. Business Cycles, Unemployment, Infation
Ch. 14

2. I. Business Cycles Ups/Downs of GDP Recession Peak Trough Expansion
Depression

4. II. Business Cycle Causes
Capital Expenditures
Inventory Adjustments
Innovation & Imitation
Monetary Factors
External Shocks

5. III. Unemployment Unemployed Unemployment Rate Discouraged workers
underemployed

7. E. Frictional Unemployment
“Between Jobs”

8. F. Structural Unemployment

9. G. Cyclical Unemployment

10. H. Seasonal Unemployment

11. I. Technological Unemployment
Automation

12. J. Full Employment
Lowest possible unemployment rategrowing economyFOP being used efficiently

13. IV. Inflation
A. Increase in prices & a fall in the purchasing value of $$$.