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- Draw a graph of a business cycle. Label and explain each phase of the business cycle.
These four stages of business cycle are expansion, peak, contraction, and trough.
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- Question 4 From the economic growth and business cycle. Fill the five phases to fit the graph bellow and give short note about each one.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.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.
- Give long information about economic changes.Does the economic cycle have a specific time of months or years?Without using real data, draw a graph showing how real GDP changes over a business cycle. Label and briefly describe each of the phases of a business cycle on your graph (recession, trough, expansion, peak).
