Business Cycle: List the four phases of the business cycle. How long have business cycles historically...

Business Cycle:
1. List the four phases of the business cycle.

How long have business cycles historically lasted?

How long did the most recent business cycle of the United States last?

Solutions

Expert Solution

Answer -

A) Business cycle model shows fluctuation in nations aggregate output and employment over time. This model shows the four phases an economy experiences over the long run - 1.expansion - at this phase aggregate output and employment expands.

2.peak - at this phase employment and aggregate output levels are at peak.

3.recession - at this phase unemployment increased and aggregate output tend to decrease.

4.through - at this phase recovery of economy begins.

B) the business cycle from 1991 to 2001 lasted for 120 months which is longest business cycle recorded.

C) the most recent business cycle of USA last for 110 months starting from March 2009 to March 2019.

Rahul Sunny answered 1 year ago

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