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1. Describe the economic cycle. Give specific details and examples.
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- Business Cycle: 1. Graph the business cycle and label the 4 economic periods 2. What is the difference between a Recession and a Recovery period? Use GDP, Inflation and Unemployment to compare these economic periods.27. What are the four stages of the business cycle? Describe each stage.What is a business cycle? Explain the four elements of a business cycle and what happens to economic activities and conditions during each element. In your explanation, be sure to touch on the concept of a recession. Use a graph to show the different elements.
- 3. What is a Business cycle? Why Business cycle essential to the economy?Help The following table gives real GDP for a small economy going through a business cycle. Real GDP (2009 Dollars) Year 2010 100 2011 103 2012 103 2013 106 2014 108 2015 103 2016 102 2017 110 a) Which years are peaks? Instructions: In order to receive full credit, you must make a selection for each option. For correct answer(s), click the box once to place a check mark. For incorrect answer(s), click the option twice to empty the box. ?2010 ? 2015 ?2016 ? 2011 ?2012 ?2017 Next> 9 of 15Discuss today’s economy as it reflects the business cycle. See recent reports from GDP 2020 to 1st quarter 2023. Show the business cycle graph starting with GDP in 1st quarter of 2020. What happened to the US economy over this time from?Draw a graph of a business cycle. Label and explain each phase of the business cycle.Draw and label a graph for aggregate economic activity over time, including all of the parts of the business cycle.Question 25 Look at the graph illustrating the stages in the business cycle. Then answer the question that follows. IV II Time With regard to the business cycle, what do the numerals on the graph represent? I: peak; II: recession; IlI: trough; IV: expansion B I: trough; II: recession; III: peak; IV: expansion I: peak; II: expansion; III: trough; IV: recession D 1: trough; II: expansion; IlI: peak; IV: recession ©2021 Iluminate EducationTM Inc. OOO Real GDPExplain the current phase of French economy using the business cycle diagram. What are the challenges to reach the next phase?Are there 2 types of business cycles?Download the USA GDP data in the last 70 years from FRED. Make a table showing the average growth rates in the last 70, 60, 50, 40, 30, 20 years and using these figures interpret the course of USA potential GDP growth through time. Do you think this is a good way to assess the development of potential GDP? Why/why not? Can you drive graph?SEE MORE QUESTIONS