Business Cycle Phenomena

  Read the article entitled “Back to a Better Normal: Unemployment and Growth in" rel="nofollow">in the Wake of the Great Recession.” Focus on Christin" rel="nofollow">ina Romer’s view of the “natural rate of unemployment.” Investigate Federal Reserve Economic Data (FRED II) estimations of the current natural rate of unemployment and the current rate of unemployment. What would you in" rel="nofollow">infer regardin" rel="nofollow">ing current output and employment? Explain" rel="nofollow">in why you do or do not fin" rel="nofollow">ind support for Romer’s view of the natural rate in" rel="nofollow">in this data.