Economics 2002.01 Application Paper

Description: This paper applies economic principles to real-world situations and analyzes economic issues.

Chloe Martinez

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NameEconomics 2002.01 Application PaperBased on the discussion of business cycles in your assignment, explain the four phases of thebusiness cycle—expansion, peak, contraction, and recovery. How do these phases relate to thethreemain goals of macroeconomics: full employment, stability, and economic growth?Additionally, using the macroeconomic data presented for the U.S., assess the current phase ofthe economy and explain your reasoning. Your response should be between 600-700 words.

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Economics

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