economic issues

Business Cycle

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Multiple Choice

Which of the following is NOT a Phase?

• Slump

• Recession

• Neutral

• Boom

• slump

​Impact on business:
- in a crises time: employement level, inflation, and GDP will affect the business negatively

- government economic objectives: low inflation, low unemployement, economic growth, balance of payment between export and import.

​Unemployement:

Assignment

Explain how the economy went through the business cycle during and after COVID starting in 2020. Describe each stage with 3-4 sentences.

When it was in the contraction and trough stages, what did the government do to try to help? Did it work?