Business Cycle: as in the graph below.

The following graph depicts the quarterly real gross domestic product (GDP or aggregate output) of the United States from 1978 Q3 to 1983 Q3. Use your knowledge of business cycle in this class, try to label the following parts as one of the following concepts, e.g. Trough, Peak, Recession and Expansion (choose only one of the four).

G Gmail x Google Translate W Business cycle - WikipediaReal Gross Domestic Proc X X - - C D a Secure | https://fred.stlouisfed.org/series/GDPC1 Categories > National Accounts > National Income & Product Accounts > GDP/GNP Real Gross Domestic Product (GDPC1) DOWNLOAD Observation: Units Frequency: Q3 1983: 7,189.896 (+ more) Billions of Chained 2012 Dollars, Quarterly 1Y | 5Y | 10Y | Max 1978-06-19 to 1983-07-11 EDIT GRAPH Updated: Jul 27, 2018 Seasonally Adjusted Annual Rate FRED ~- Real Gross Domestic Product 7,200 7,100 7,000 Billions of Chained 2012 Dollars 6,900 6,800 Send feedback 6,700 6,600 Q3 1978 Q1 1979 Q3 1979 Q1 1980 Q3 1980 Q1 1981 Q3 1981 Q1 1982 Q3 1982 Q1 1983 Q3 1983 1950 1960 1970 Shaded areas indicate U.S. recessions Source: U.S. Bureau of Economic Analysis fred.stlouisfed.org Share Links % Account Tools & J . f in NOTES O Type here to search x] w] A Ed 8:36 PM ~ [ENG 8/23/2018