Macro: Unit 1.1 -- The Business Cycle
Hey Everyone! I'm Mr. Willis, and You Will Love Economics!
In this video, I will:
Introduce the business cycle graph
Define basic terms and explain concepts at the foundation of economic performance, such
as expansion, contraction, recession, and depression
Explain how components of the graph serve as economic indicators
Practice identifying business cycles, periods of expansion and contraction, and peaks and
troughs through data on Real GDP, unemployment, and price level
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