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Economics: The Basics 1st Edition by Mike Mandel
Edition 1ISBN: 978-0071316026Economics: The Basics 1st Edition by Mike Mandel
Edition 1ISBN: 978-0071316026 Exercise 8
The following table gives real GDP for a small economy going through a business cycle.
a) Which years are peaks?
b) What are the starting and ending dates of the recession?
c) How many years does the expansion last?
a) Which years are peaks?
b) What are the starting and ending dates of the recession?
c) How many years does the expansion last?
Explanation
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Potential GDP (Gross Domestic Product)
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Economics: The Basics 1st Edition by Mike Mandel
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