Draw a graph for economic activity over time that includes all of the partsof the business cycle. Briefly describe the idea of the “great moderation”when it comes to business cycle theory.

Label the graph in Figure 1 with all of the parts of the business cycle.

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.

After defining what we mean with the term “business cycle”, briefly explain the effects of thefollowing cases regarding output, price levels, employment and the overall situation of the economy(recession, expansion etc.). Use graphs to explain yourself in a clear and effective way.i)Suppose the consumers are more pessimistic about the future and reduce their consumption.ii) Suppose the government banned a specific type of technology that firms use to increaseproductivity.

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

How do you show in a graph the difference in behaviour of the current average productivity of labour and employment in the real business cycle.

Plot these data points, and identify the four phases of the business cycle. Give a theory that may explain the cause of the observed business cycle. What are some of the consequences of a prolonged decline in real GDP? Is the decline in real GDP from $1,000 billion to $500 billion a recession?

The following graph approximates business cycles in the United States from the first quarter of 1947 to the third quarter of 1951. The vertical blue bar coincides with periods of 6 or more months of declining real gross domestic product (real GDP).   1947194819491950195121702070197018701770REAL GDP (Billions of dollars)YEAR Source: “Current-dollar and Real GDP,” Bureau of Economics Analysis, last modified May 1, 13, accessed May 15, 13, http://www.bea.gov/national/xls/gdplev.xls.   Notice that real GDP trends upward over time but experiences ups and downs in the short run. A period of declining real GDP, such as the blue-shaded period in 1948, is known as    .   True or False: Small ups and downs in real GDP follow a consistent, predictable pattern. True   False     Which of the following probably occurred as the U.S. economy experienced increasing real GDP in 1950?  Check all that apply. Industrial production declined.   Consumer spending increased.…

Find an illustration or graph that identifies the different phases of the business cycle. Thereafter discuss each phase below your illustration or graph. Interpret it.

What part of the business cycle (expansion, contraction, peak, trough) is the economy likely in based on the graph above? Describe the likely economic conditions in this economy.