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1.a) Identify and define the four phases of the business cycle. How does the National Bureau of Economic Research (NBER) define a recession? See the

1.a) Identify and define the four phases of the business cycle. How does the National Bureau of Economic Research (NBER) define a recession? See the NBER's website at www.nber.org. b) Go to the National Bureau of Economic Research's (NBER) web page at US Business Cycle Expansions and Contractions and find the beginning and ending dates of: The latest recession. The latest expansion. What phase of the business cycle is the U.S. economy currently in

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