Question: 1. What is the business cycle ? Differentiate between expansion , recession and depression . 2. Draw the Model of the Macro Economy showing the

1. What is the business cycle ? Differentiate between expansion , recession and depression . 2. Draw the Model of the Macro Economy showing the Determinants and Outcomes . .ill 5G + 3. What is the Production Function ? Define and give the formula . 4. Why do lower prices tend to increase the volume of demand but decrease the aggregate quantity supplied ? 5. Draw and label the indifference curve for Production Possibilities . Use Office to work on this file Get Office

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7. What is the extent (percentage) of errors detected in the information collected?

8. What are the costs of collecting the information?

6. How great is the time-lag between when an event occurs until we get information about it?