Table 5-1 shows data on real GDP and employment for a particular country from the year 1991 to 2000. Use the table to answer questions .
Table 5-1

-Refer to Table 5-1. A complete business cycle:

Question

Table 5-1 shows data on real GDP and employment for a particular country from the year 1991 to 2000. Use the table to answer questions .
Table 5-1
 
-Refer to Table 5-1. A complete business cycle:

Quizplus · Accepted Answer

A complete business cycle consists of a peak, a trough, and the period in between. Looking at Table 5-1, we can see that the highest real GDP was reached in 1994, followed by a decrease in 1995 and 1996, and then an increase in 1997, 1998, and 1999. Employment also followed a similar pattern. Therefore, the complete business cycle commenced in 1994 (peak), reached a trough in 1996, and ended in 1999 (peak again). Choice C is the best answer.

Table 5-1 Shows Data on Real GDP and Employment for a Particular