Refer to the Following Figure When Answering the Following Questions

Multiple Choice

Refer to the following figure when answering the following questions.
Figure 17.3: Change in Private Inventories: 1980-2012
-Consider Figure 17.3, which shows changes in private inventories. Of the following (approximate) dates, ________ is likely to be a period of recession. Given your analysis, inventories are ________.

A) 1980; countercyclical
B) 1997; procyclical
C) 2008; countercyclical
D) 2001; procyclical
E) 2001; countercyclical