Question

What role do business cycles play in a market economy? Write a short note on the effects of the recent recession in the US economy with respect to the economic indicators you learned about in the lesson.

Answer 1

Answer:

Explanation:

Business cycles are the "ups and downs" in economic activity, defined in terms of periods of expansion or recession. During expansions, the economy, measured by indicators like jobs, production, and sales, is growing--in real terms, after excluding the effects of inflation.