c.Explain in detail, 4 possible causes of change in the direction of the business cycle. You are looking for things that are out of the control of the government.  Do not talk about fiscal or monetary policy tools here.  Don’t say inflation or recession!

Only typed answer and please don't use chatgpt  Suppose one economist believes the target rate of unemployment is 4 percent while another believes it is 4.9 percent. Using Okun’s rule of thumb, by how much would you expect their estimates of potential GDP to differ in a $9 trillion economy?

3- The lowest part of a recession is referred to as its _________. a. Depression b. Boom c. Peak d. Trough

What is likely to be true at the peak of the business cycle? A. Real GDP, unemployment, and inflation are all likely to increase.   B. Real GDP is increasing, unemployment is decreasing, and inflation is increasing.   C. Real GDP, unemployment, and inflation are all likely to decrease.   D. Real GDP is decreasing, unemployment is increasing, and inflation is steady or decreasing.

Answer the following questions using any tools at your disposal.  More credit will be given for answers that use the graphical tools presented in class, along with a “story.” A. The federal government ran a budget surplus in the late 1990 and in the year 2000, but has since returned to running a budget deficit. 2. Explain why expansionary monetary policy would help decrease the likelihood of a recession if it were adopted at the same time the budget deficit was being reduced.