Which of the following statements best refers to the business cycle? Explain. 1. My business for personal protective equipment has increased due to COVID-19 2. Canadian unemployment is decreasing due to an upturn in the economy. 3. More capital investment will create more jobs 4. The unemployment rate in Canada was 8.6 percent in December 2020.

The graph shows the U.S. unemployment rate as a percent of the labor force during the years surrounding the Great Depression, when did the unemployment rate reach its lowest value? Unemployment Rate Select one: a. 1942 20 c. 1937 25 d. 1933 15 b. 1929 10 5 0 1929 1930 1931 1932 1933 1934 1935 1936 1937 1938 1939 1940 1941 1942

Assume the following data for a country: Number of People, Millions Category Total population Population under 16 years of age or institutionalized 500 120 Not in the labor force 140 Unemployed Part-time workers looking for full-time jobs 12 10 Instructions: Enter your answers as a whole number. a. What is the size of the labor force? million b. What is the official unemployment rate? percent

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What is business cycle in economics and what are the four phases of business cycle?

Draw a diagram of GDP growth, inflation, and unemployment changing over time during a recession. Explain the timing on unemployment changes. Why might measured unemployment continue to rise after output starts to recover?

Draw a graph representing a business cycle and mark the points or areas of potential GDP, full employment, natural unemployment, and cyclical unemployment.