Unemployment and the Recession
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This paper outlines the loss of jobs in the U.S. since the beginning of the current economic downturn starting in December 2007. Next, the author evaluates Keynesism theory for managing macroeconomics using government intervention rather than doing nothing to manipulate the economy during periods of recession. The paper underscores that, over the years, the change in the unemployment rate has been a good indicator of every economic downturn since 1929.
From the Paper:"In order to understand this idea about inventories, it is necessary to understand that if the prices were to change and not be rigid, then it would be the prices and not the inventories that would guide companies in their decisions about production. For example, if prices were increasing, a company would know that their product is popular and that they should increase the production of it. And if the prices were decreasing, the company would know that their product is not selling well and that they should probably reduce its production. In an economy though where the prices are fixed, companies need another way of deciding whether they should increase or decrease production."
Sample of Sources Used:
- Harrison, Edward. "Chart of the Day: Unemployment as a Recession Indicator." 2008. Credit Writedowns. 7 April 2009 <http://www.creditwritedowns.com/2008/09/chart-of-day- unemployment-as-recession.html>
- Reddy, Sudeep. "Jobless Rate Hits 8.5%." The Wall street Journal. April 2009 <http://online.wsj.com/article/SB123876121625986405.html>
- "U.S. Unemployment Rates." 2009. Recession.org. 7 April 2009 <http://recession.org/library/us- state-unemployment-rate>
- "What Causes a Recession to be a Recession." n.d. It's Time to Make Money. 7 April 2009 <http://www.beginnermoneyinvesting.com/html/what_causes_a_recession_to_be_.htm>
Cite this Analytical Essay:
Unemployment and the Recession (2011, June 19) Retrieved May 31, 2020, from https://www.academon.com/analytical-essay/unemployment-and-the-recession-147724/
"Unemployment and the Recession" 19 June 2011. Web. 31 May. 2020. <https://www.academon.com/analytical-essay/unemployment-and-the-recession-147724/>