Unit 3 Economics Performance Task: Writing Assignment for Business Cycle

ForPart IIyou will search for a news article (newspapers: New York Times, Washington Post, and Wall Street Journal are all free right now due to the covid-19 situation).

Part I:For this assignment, to are to do is do the reading titled"Introduction to US Economy: The Business Cycle" through this link.We've done this before with posters and tied this into the Covid-19 situation.

After you are finished reading, you are to answer the following questions in paragraph form. Do not number your responses. Make sure that your responses are tied in with each other as if you were writing an essay. Here are the questions:

1. what is the business cycle? What does it measure?

2. How does the National Bureau of Economic Research define the business cycle? (Again, use your own words.)

3. How long did the average expansion last? How long did the average recession last? And during which time period did these occur?

4. What are thethreepotential causes of the business cycle? Don't just list them out. Write out what each of them mean and do to the business cycle.

Part II: Find an article having to do with the business cycle, economic recession, unemployment, and covid-19. The best way of doing this is by doing a google search such as "business cycle+coronavirus+world economy New York Times" as an example. Feel free to choose the article. Remember New York Times, Washington Post, Wall Street Journal are all offering free articles online. It must be recent and should not be before January of this year. Once you have read the article, write out summarizing the article and how the US Economy has been affected by the covid-19 pandemic.

Answer rating: 100% (QA)

Part I The business cycle refers to the fluctuations in economic activity that an economy experiences over time It measures the shortterm ups and downs in the level of economic activity including fluc... View the full answer