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- What are the names of the following events in a business cycle?
a) the high point of economic activity
b) the low point of economic activity
c) the period between the high point of economic activity and the following low point.
d) The period between the low point of economic activity and the following high point.
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- 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.Which of the following macroeconomic variables is the most seasonally procyclical? 1- Expenditure on services 2- The unemployment rate 3- Expenditure on durable goods 4- The real wageWithout 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).
- Why do economists and managers pay attention to the measurements of macroeconomic activity? several elements of these measurements such as durable goods, non-durable goods, etcThe following table contains information about an economy that produces only pens and books. The base year is 2017. Use this information to answer question What is the percentage increase in real GDP from 2018 to 2019?You are provided with the following data – assume the two items produced by an economy are movies and popcorn. Quantities and prices of these goods for the last several years are shown below. The base year is 2017. Prices and Quantities Year Price of Movies Quantity of Movies Price of Popcorn Quantity of Popcorn 2017 $11.00 400 $5 800 2018 $12.00 500 $4 900 2019 $12.00 600 $5 1000 2020 $13.00 600 $6 900 What is the approximate economic growth rate for the year 2020? Answers: -4.3% 19% 16% 4.3%
- 2000 GDP 19) Consider the following graph to answer the next question. Real 2001 2004 2005 2008 2009 Short-run path Long-run trend of GDP 2012 2013 Time During which period(s) was the U.S. economy in an expansion?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 151. Describe the economic cycle. Give specific details and examples.6 of 22 Concerning the four phases in the economic cycle, the area around A this graph represents economic Phases of an Economic Cycle GDP in $ Years O trough O expansion O recession UIN A BUSINESS CYCLE, A PEAK REPRESENTSThe following table gives real GDP for a small economy going through a business cycle. Real GDP (2009 Dollars) Year 2010 100 2011 104 2012 103 2013 106 2014 109 2015 112 2016 111 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 ? 2016 ? 2011 ? 2012 ? 2017 ? 2015 ? 2014 ? 2013SEE MORE QUESTIONS