1 Define Economic Growth 2 List The Phases Of The Business Cycle 3 In Which Phase Of 3314149

1.Define economic growth. 2,List the phases of the business cycle. 3.In which phase of the business cycle is unemployment at its highest? Where in the business cycle is it the lowest? 4.In which phase of the business cycle is inflation a possible problem? 5.Give two definitions of recession. 6.A good that is produced but not sold is still counted in GDP using the expenditure approach to computing GDP. Do you agree or disagree with this statement? Explain your answer.

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