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Essay / Research Paper Abstract
A 6 page paper discussing the need for economic stimulus following the terrorist attacks of September 11, 2001. On September 10, 2001, the stock market was uncertain but holding its own, and many of the nation's largest companies were announcing disappointing second quarter business results. After the longest period of economic expansion known in modern times, the US economy had entered a decline that some are saying is a recession. Others are not as quick to use the dreaded "R" word, and point to strong performance in several sectors. The attacks pushed the already-teetering US economy off the cliff, however, and the government will need to take direct action to stimulate the economy. Bibliography lists 4 sources.
Page Count:
6 pages (~225 words per page)
File: CC6_KSeconStimu.rtf
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Unformatted sample text from the term paper:
the stock market was uncertain but holding its own, and many of the nations largest companies were announcing disappointing second quarter business results. After the longest period of economic
expansion known in modern times, the US economy had entered a decline that some are saying is a recession. Others are not as quick to use the dreaded "R"
word, and point to strong performance in several sectors. The pre-attack fallout of the technology sector, particularly in high-tech, Internet-related companies, set investors
on their collective ear. Few expected such a correction in market value of these companies, and the losses incurred in returns has been more than only disheartening for organizations
and investors alike. The US Congress has been debating an economic stimulus bill for weeks, with no resolution in sight at the moment.
Historical Basis That there should be a correction in the market and a slowdown in the economy should not come as
a surprise to any, but the fact always is surprising when it does finally appear. Some economists were even being so daring as to pronounce the business cycle dead,
even though economists of all people should know better. MITs Paul Samuelson did the same in 1969; by 1973 the US and the entire developed world were in a
deep recession that raised fears of depression. Recent changes in the economy point to the fact that the business cycle is very much
alive and operable. Another fact of the business cycle that has been invoked in the current slowdown is the fact that the longer the period between market corrections, the
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