Draw a graph of a business cycle. Label and explain each phase of the business cycle.

Economics Today and Tomorrow, Student Edition
1st Edition
ISBN:9780078747663
Author:McGraw-Hill
Publisher:McGraw-Hill
Chapter13: Measuring The Economy's Performance
Section: Chapter Questions
Problem 16AA
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  1. Draw a graph of a business cycle. Label and explain each phase of the business cycle.
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These four stages of business cycle are expansion, peak, contraction, and trough. 

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