Suppose that a country's annual growth rates were as follows over a 10-year period. Year 2 3 9 10 Growth Rate 5 3 -4 2 What was the country's trend rate of growth over this period? Instruction: Round your answer to one decimal place. The trend rate of growth= 23 percent Which set of years most clearly demonstrates an expansionary phase of the business cycle? Years 6 through Which set of years best illustrates a recessionary phase of the business cycle? Years 4 through 9

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