Draw a graph for economic activity over time that includes all of the partsof the business cycle. Briefly describe the idea of the “great moderation”when it comes to business cycle theory.

Survey Of Economics
10th Edition
ISBN:9781337111522
Author:Tucker, Irvin B.
Publisher:Tucker, Irvin B.
Chapter12: Business Cycles And Unemployment
Section: Chapter Questions
Problem 2SQP
Question

Draw a graph for economic activity over time that includes all of the parts
of the business cycle. Briefly describe the idea of the “great moderation”
when it comes to business cycle theory.

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