The Business Cycle In this blank graph of the business cycle, what does the circled area on the graph BEST represent? Expansion Income Spending Contraction

Q: Define the term Consumer Price Index?

A: CPI is the weighted mean price of the set of commodities and services that consumers commonly…

Q: Why do economists use index numbers to measure the price level rather than dollar value of goods?

A: When an economy faces a continuous increase in the prices of all goods and services, it is said to…

Q: What is the producer price index and how does it affect the economy? interpret the chart below

A: The producer price index shows the average level of price which is received by the domestic…

Q: What are the differences between the Consumer Price Index and the Producer Price Index?

A: The consumer price index and the producer price index are the two important measures of inflation.

Q: Find a news headline that refers to the business cycle. What phase of the business cycle does your…

A: The business cycle refers to the cyclical upswings and downswings in the economy. It indicates the…

Q: Define “retail sales” index and tell why it is important as an economic indicator.

A: The Retail Sales Index (RSI) is an indicator of retail industry’s performance in the short-run based…

Q: Using your knowledge of price indexes, answer the following questions. (a) In a base year, what will…

A: In an economy, price indexes are the tools to measure the changes in the price level or inflation…

Q: Explain the value of seasonal indices in forecasting. How are seasonal patterns different from…

A: Forecasting is an essential tool in the field of economics. It is necessary for researchers and…

Q: Draw a graph where inflation falls and GDP increases.

A: The aggregate demand curve(AD) is a downward-sloping curve showing all the different combinations of…

Q: The following graph approximates business cycles in the United States from the first quarter of 1953…

A: Answer: (1).  Notice that real GDP trends upward over time but experiences ups and downs in the…

Q: Of the recessions we studied, we learned that the recessions in and lasted the same number of…

A: Since you have asked multiple question, we will solve the first question for you. If you want any…

Q: Use Figure 6 to answer questions 30: RGDP| E A D Time Figure 6 30. In Figure 6, which area…

A: The diagram given in the question belongs to business cycle of an economy.

Q: Consider a macroeconomy that produces smartphones, automobiles and haircuts. Use the information…

A: GDP includes the market value of goods and services produced in the economy within a given period of…

Q: Explain what is the relationship between the consumer price index and the inflation rate.

A: Inflation is referred to an increase in the general level of prices of goods and services in the…

Q: he graph below shows the AD-AS diagram for Spain.

A: Cyclical unemployment: It refers to the ups and downs in the overall employment due to the change in…

Q: What is the Consumer Price Index?

A: ‘Price index’ is a measure of relative price(P) changes. It indicates the changes of P over a time…

Q: The following prices and quantities produced were recorded in computer land during the years shown…

A: GDP deflector=nominal GDPreal GDP×100

Q: 1. Key facts about economic fluctuations Help me check it !!! The following graph approximates…

A: Economic fluctuations are simply oscillations in the position of the public income of a country…

Q: Define Economic events.

A: Economic events are those that can be measured in monetary terms.

Q: Is the consumer price index a good measure of the general price increase of consumers? How?

A: The consumer price index is an extensive measure utilized for estimation of value changes in a bit…

Q: Gmpurts cnter the calcula Week 3 Homework sPunauo:i spaubueon. X 13…

A: To find the percentage increase which is also the inflation rate the following formula is used:

Q: The business cycle diagram Long term trend B ibEconomist.com Time Given the graph of the business…

A: Since you have posted a question with multiple sub-parts, we will solve the first three subparts for…

Q: How is a basket of goods and services used to measure the price level?

A: Inflation is defined as the rise in the average price level of commodities and services in the…

Q: Why is the consumer price index not a good measure of industrial price increases?

A: Answer: Consumer price index (CPI) measures the changes in the price level of a basket of different…

Q: Define consumer price index And tell why it is important to the economy.

A: CONSUMER PRICE INDEX (CPI) It is a measure for estimating changes in the price paid by the consumer…

Q: Question 13 ( Which of the following are included in the consumer price index? Government spending…

A: Based on a representative basket of goods and services, the Consumer Price Index tracks the overall…

Q: Real GDP can be decomposed into Trend and Cycle, where the Trend captures the ______________ of the…

A: The gross domestic product (GDP) refers to the money or market value of all the  finished goods and…

Q: How is the producer price index related to the consumer price index?

A: Consumer price index: Consumer price index (CPI) refers to the measurement of weighted average price…

Q: Graph the business cycle and label the 4 economic periods 2. What is the difference between a…

A: Fluctuation in the GDP is often called business cycle. It has four period  1. Expansion 2. Peak, 3.…

Q: 1. The following prices and quantities produced were recorded in computer land during the years…

A: GDP Deflator = (Nominal GDP/Real GDP)*100 Nominal GDP is the value of the current basket of goods at…

Q: FRED Nelr Prod S s f t The Graph above shows the percentage growth in real GDP. Which phase of the…

A: The graph of real GDP growth rate shows business cycle where real GDP is increasing and decreasing.

Q: Describe the economic cycle. Give specific details and examples

A: The economic-cycle refers-to the ups and downs in the growth(g) of output(Y), spending, income(Y),…

Q: Explain briefly what the consumer price index tries to measure?

A: The CPI is a weighted average of prices for various consumer goods and services, such as…

Q: commonly used in your country. How is it calculated?

A: *Answer:  A price index is a weighted average of the prices of a selected basket of goods and…

Q: Go to http://www.econlib.org/library/Enc1/Recessions.html and review the material on recessions.a.…

A: Since you have posted multiple sub-parts, we are answering the first three for you. If you want…

Q: Explain the purpose of trend line

A: Trendline can be defined as a recognizable line which indicates the best fit of a particular data or…

Q: What is the U.S. GDP for the 1st quarter of 2017?

A: Answer" The growth rate of U.S. GDP for the first quarter of 2017 was 0.7%, which is the lowest when…

Q: Discuss various ways of measuring the size of the national deb

A: The national debt is the total public debt with the government of the country in a particular period…

Q: fter defining what we mean with the term “business cycle”, briefly explain the effects of the…

A: The fluctuation in the economic activity is tracked by the business cycle. In an economy, the fall…

Q: How do you calculate potential GDP when you are given this chart?

A: Potential GDP = 14 trillions

Q: The following graph approximates business cycles in the United States from the first quarter of 1947…

A: