Question

The graph shows the annual growth rate of the GDP of the United States economy since the first quarter of 1990.  1. Based on the phases of the business cycle, how can you represent the concept on this graph? Explain. 2. Without necessarily having the numerical data, what level (high or low) of unemployment could have been registered in some of the periods presented in the graph? Explain your answer indicating why. 3. Without necessarily having the numerical data, what level (high or low) of inflation could have been registered in some of the periods presented in the graph? Explain your answer indicating why. 4. How do you correlate your answers in the previous questions with the phases of economic cycles and their effects in the short and long term? Explain your answer
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Answer 1

Answer:

when GDP begins to increase following a contraction and a trough in the business cycle; an economy is considered in recovery until real GDP returns to its long- ...