Exercises on this module: To be submitted on email fionamorielesedeniogmail.com). Use white paper in answering your module. Answer the following Case Studies, be direct, and neat on your response (pls. follow the number series): 1. On the basis of recent news reports, what phase of the business cycle do you think the economy is in now? What is the inflation or deflation rate? The unemployment rate? 2. Suppose unemployed people leave a state to obtain jobs in other states. What do you predict will happen to the unemployment rate in the state experiencing the out-migration? What might happen to the unemployment rates in the states experiencing in-migration? References Principles of Economics (Saylor Books) Chapter 18, 21 and 27