After not playing baseball for 3 years in college because of having a total hip replacement, and then coming back to play professionally once I graduated, and get the opportunity to play on a team like the @wcthunderbolts we had in 2007 and 2008...it was like a dream come true. This was a night I will never forget.
During this period, the average expansion was approximately 58 months, and the average contraction was approximately 11 months. Expansion is the default mode of the U.S. economy, and the average expansion time period has continued to average longer over time.
â¢ In a closed economy the level of interest rate would be determined by the intersection of investment curve and savings curve (r clo). â¢ In case of small open economy, when worldâs interest rate is higher than for closed economy (r 1 *) we will face a current account surplus. Yet, in case of a big country, we suppose that its policy may influence worldâs interest rate. Hence, an expansionary fiscal policy will cause a decrease in worldâs savings and an increase in worldâs interest rate. As a result, small open economy will face capital account deficit and current account surplus.