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A country’s annual growth rates over a 10-year period are shown in the following table
A country’s annual growth rates over a 10-year period are shown in the following table.
Year Growth Rate1 52 33 44 -35 -46 27 38 49 610 3
What was the country’s trend rate of growth over this period?
Which set of years most clearly demonstrates an expansionary phase of the business cycle?
Which set of years best illustrates a recessionary phase of the business cycle?
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