Macroeconomics Business & Marketing Essay Research (Essay Sample)
The assignment required me to research the business cycle dating committee of the national bureau of economic research. I had to provide information on A recent economic event and the dates as provided by the board.source..
The united states economy has experienced exponential growth from the onset of the industrial era. The growth and expansion of industries created employment opportunities in the economy, triggering the shift in the economic activities from casual agricultural labor in farms to employment positions in the companies. The onset of the industrial era resulted in the birth of a capitalist economy, characterized by resource exploitation for economic growth, and further the development of economics as a discipline as individuals endeavored to make the most of production from the limited resources available. With the shift in activities, the country experienced significant growth in the gross domestic product of the country. Moreover, the country developed its infrastructural systems and opened up avenues for business. Despite the growth in the performance of the economy, downturns in economic performance were common as the markets reached saturation levels and reset. The experienced fluctuations in the market affected the performance of businesses, leading up to the formation of the business cycles. As such, this paper describes the dynamics of the business cycles, especially recession, drawing from the perspective painted by the national bureau of economic research (NBER).[Bloom, Nicholas, Max Floetotto, Nir Jaimovich, Itay Saporta‐Eksten, and Stephen J. Terry. "Really uncertain business cycles." Econometrica 86, no. 3 (2018): 1031-1065.] [Bloom et al. 1032]
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