Business Cycle Part 1

Business Cycle Part 1
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  • How was your day at school today?
  • Pretty good.
  • Today we talked about getting a job.  Do you have a job?
  • No I have been looking for one lately, but I can't find many places.
  • Ya, that's what my teacher said.  She said it was because we are in a recession.
  • What does that mean.
  • It is when the economy declines significantly for a while.
  • Interesting.
  • There is usually a drop in real GDP, income, employment, manufacturing, and retail sales
  • That makes sense why I can't find very many job options.
  • Hopefully it only lasts for a few months.
  • Ya, then maybe I can get a job.
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