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Essay / Research Paper Abstract
A 3 page paper discussing the macroeconomic concepts of economic expansion and the role of consumer confidence. The national economy is continuing to register unexpected growth, despite several years of predictions that it must slow sometime. Federal Reserve Board Chairman reports that although the economy is 'sparkling,' there still are some ominous events unfolding. It will be continued consumer confidence that prevents recession despite the effects of the Asian currency crisis and faltering emerging markets abroad. Bibliography lists 5 sources.
3 pages (~225 words per page)
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Unformatted sample text from the term paper:
I am writing to commend you for allowing the continuance of fiscal policy in place before you took office and also for your own measures that work to reinforce that
policy. The economy of the US currently is in the longest period of economic expansion known. While growth has been encouraging, it is troubling to know that even
economists making macroeconomic analysis their lifes work are unsure just what has brought about this long period of growth interrupted by only the mildest of "bumps."
The difficulty I am having with this decade of growth is that because we have no clue as to why it has lasted so long or
has taken the path that it has, we also have no means either of recreating it or taking steps to ensure its continuation.
Historically, national economics has followed the pattern of the business cycle, that cycle of boom and bust that previously was fairly predictable. We could count on approximate times
that things would be better, and we could efficiently plan for those times of "correction" that inevitably came with as much dependability as the movement of the tides or the
cycle of the moon. Today, however, some analysts are saying there is no reason the current scenario cannot continue, while others preach doom that has as its source that
the longer the boom times of the classic business cycle, the harder and longer the fall of the economy on the bust side.
Federal Reserve Board head Alan Greenspan said in late 1998 that the economic condition of the United States was unlike any set of economic circumstances he had seen in