Question

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Match the percentage with the element of the 2019 GDP. 18% 1. C 2.1 3. G 17% 4. (X-M) Question 2 (10 points) What are the 4 phases of the Business Cycle? MacBook Air

Answer 1

I explained 4 phases below along with graph(2 image).

on peak. Contration and trough DATETIT Business Cycles are identified as having -four- distinct phases : le expansion peok. Contraction expansion :- to expansion Characterized by increasing emplojo c.conomic growlt aud upward powee on piesa An expansion is the period from a through to con apa faticam center on everanshe peak. In genial, business great for Normal mainte but docebites expansion brings challengese employment peak :- A peak is the highest point of the business cycle. when the economy is producing at mocimum allowable Oudput employment is at or above full employement, and - inflationary - poruyures on puiles are evident Contraction Following a peak, the economy typically enter into a Conection which is characterized by a Contraction. This is the phase where growth Slows, employment declines and Puding poressures Subside . Recession (contraction) as the persed from twopha toca peak to a trough po dostotaal Rupean malameo Rogee derde chef xion as a Biglioso dedine in Rasmusemio Potitite spred and the coming Trough - The slowing ceases at the trough and at this point the economy has hitu DOLOMITE 1 has hit a bottom from which the next DE - phase of expansion and contraction will emerge. PAGE I lassmate

2. Graph

DATETI Deak OUTPUT expansion Contactin : Time x-anis