1. War On Our Economy
... Fortunately, layoffs have slowed to a trickle, but Bruce Steinberg, chief economist at Merrill Lynch in New York, say profits are likely to plumb post-World War Two lows in the fourth quarter, and the job cuts are far from over. That being said, there's no question were being hurt ... of decline in the GDP. When a recession occurs, prices fall; people purchase fewer products, and businesses fail. A recession has many negative consequences for an economy: high unemployment, increased business failures, and an overall drop in living standards. The National Bureau of Economic Research annou...
- Word Count: 1223
- Approx Pages: 5
- Has Bibliography
- Grade Level: High School