Business Cycles Demystified: Boom, Bust, and Recovery
Student Worksheet
An oil embargo can push prices up while output falls at the same time, a mix the reading calls stagflation, born from a supply shock and not the ordinary demand swings behind expansion and contraction. During the 2008 downturn, Congress passed the Troubled Asset Relief Program to inject capital into banks while extending unemployment benefits and funding infrastructure work, on top of the Federal Reserve's near zero rate cut.
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