Figure Stage 1 Stage 2 Stage 3 Stage 4 Stage 1 Trough to Recovery to Expansion to Peak to Trough to Recovery Expansion Peak Contraction Recovery Mar 2001 Through Economic Activity 120 Business `Cycle Mar 1891 Nov 2001 Time Using the illustration of the business cycle in figure 1, answer the following question: Which stage of the business cycle do you think your country's economy is in right now? (You can choose any country you wish.) Your answer needs to clearly state the stage, approximate location on the economic activity line, and reasoning behind your determination. (see example below.) Keep in mind that you do not have to back up your assertions with official data, but you are welcome to give it a try. Simple and straightforward reasoning from your perspective is all that is needed. Also, do you feel the beer game, as depicted in the video, represented any part of the 2008 Global Recession? Example: I am pretty sure that Argentina's economy is nearing the end of stage 2 of its business cycle. I believe this to be true because