Identify the phase of the Business Cycle Year Real GDP in Billions GDP Growth Rate Phase of the Business Cycle 1 5,839 -2 5,987 2.5 3 5,870 -2 4 6,136 4.3 :: Expansion :: Expansion & Peak :: Contraction :: Contraction & Trough

Identify the phase of the Business Cycle Year Real GDP in Billions GDP Growth Rate Phase of the Business Cycle 1 5,839 -2 5,987 2.5 3 5,870 -2 4 6,136 4.3 :: Expansion :: Expansion & Peak :: Contraction :: Contraction & Trough

Economics: Private and Public Choice (MindTap Course List)

16th Edition

ISBN:9781305506725

Author:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson

Publisher:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson

Chapter8: Economic Fluctuations, Unemployment, And Inflation

Section: Chapter Questions

Problem 1CQ

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Question

Identify the phase of the Business Cycle
Year Real GDP in Billions GDP Growth Rate Phase of the Business Cycle
1
5,839
-2
5,987
2.5
3
5,870
-2
4
6,136
4.3
:: Expansion
:: Expansion & Peak
:: Contraction
:: Contraction & Trough
00

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