Level of national business activity100-0-0The Business CycleTime100 11KConsider the diagram to the right in the next column. The line represents the economy's growth trend, and the curve represents the economy's actual course of business fluctuations. For eachpart below, provide the letter label from the portion of the curve that corresponds to the associated term.a.) Using the point drawing tool, indicate a point on the curve that represents a contraction or recession. Label this point Ab.) Using the point drawing tool, indicate a point on the curve that represents a peak. Label this point B.c.) Using the point drawing tool, indicate a point on the curve that represents a trough. Label that point Cd.) Using the point drawing tool, indicate a point on the curve that represents an expansion. Label that point D.Carefully follow the instructions above, and only draw the required objects12on 13ion 14stion 15estion 16Question 17O

Business cycle represents the periodic changes in the economic activities over the years. Every…

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Economics

Level of national business activity 100- The Business Cycle Time 100

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

Level of national business activity
100-
0-
0
The Business Cycle
Time
100

11
K
Consider the diagram to the right in the next column. The line represents the economy's growth trend, and the curve represents the economy's actual course of business fluctuations. For each
part below, provide the letter label from the portion of the curve that corresponds to the associated term.
a.) Using the point drawing tool, indicate a point on the curve that represents a contraction or recession. Label this point A
b.) Using the point drawing tool, indicate a point on the curve that represents a peak. Label this point B.
c.) Using the point drawing tool, indicate a point on the curve that represents a trough. Label that point C
d.) Using the point drawing tool, indicate a point on the curve that represents an expansion. Label that point D.
Carefully follow the instructions above, and only draw the required objects
12
on 13
ion 14
stion 15
estion 16
Question 17
O

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