Answer the following questions:
a.What is meant by the term "business cycle"?
b.What economic indicators would indicate where the economy is in the business cycle? Explain.
c.Give the four phases of the business cycle in their order of occurrence.
d.What criterion must be met for our economy to be officially in a recession?

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The Answer of Answer the following questions:
a.What is meant by the term "business cycle"?
b.What economic indicators would indicate where the economy is in the business cycle? Explain.
c.Give the four phases of the business cycle in their order of occurrence.
d.What criterion must be met for our economy to be officially in a recession?

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