Respond to the following prompt in a post with a minimum of 200 words, then comment on at least TWO other
posts.
While over the long run, the economy grows about 2 to 3% per year on average, over the shorter term, the
economy goes through business cycles. Think about the growth rate of GDP, the inflation rate, and the
unemployment rate over the last 12 quarters. Once you’ve looked at the data, can you draw conclusions about
the state of the economy? Would you describe the economy as booming, recovering, or in recession during the
last few years? Why? Use the AD-AS model to illustrate this graphically. Which curve do you think caused the
change? Explain your reasoning.
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