Macroeconomics

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Frage		Antworten
Macroeconomics emerged as a separate discipline... Lernen beginnen		in the 1930s.
When did Keynes publish the "General Theory"? Lernen beginnen		It was published in 1936 - shortly after the Great Depression.
Up to when China had the world's largest economy? Lernen beginnen		China had it up to 1820.
According to Francis Bacon, there were three very important inventions facilitating the West's transformation from the Dark Ages to the modern world. What were these inventions? Lernen beginnen		These were gunpowder, the magnetic compass, and paper and printing. They were invented in China.
Which countries, following the Industrial Revolution, emerged as leading world economies? Lernen beginnen		These were Britain, France, Germany and later the US.
When was the Great Depression? Lernen beginnen		In the 1930s.
Having learned from the experience of the Great Depression... Lernen beginnen		the Golden Age of Capitalism followed World War II.
When did the first crisis of capitalism (since the 1930s) happen? Lernen beginnen		The crisis occurred in the 1970s. It combined high uneployment and high inflation.
What is "the combination of high unemployment and high inflation" called? Lernen beginnen		It is known as a stagflation.
What did advanced economies experience between the 1980s and 2000s? Lernen beginnen		They experienced the Great Moderation: low inflation, low unemployment and almost constant output growth.
Who have experienced rapid economic growth (in last 30 years) in particular? Lernen beginnen		Many former developing economies and socialist economies in Asia and Eastern Europe.
What many developing economies and socialist economies in Asia and Eastern Europe have experienced (in last 30 years)? Lernen beginnen		They have experienced rapid economic growth.

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