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Suppose that a country's annual growth rates were as follows over a 10-year period. Year Growth Rate 1 5 2 3 3 4 4 -1

Suppose that a country's annual growth rates were as follows over a 10-year period.

Year

Growth Rate

1 5
2 3
3 4
4 -1
5 -2
6 3
7 4
8 5
9 6
10 2

What was the country's trend rate of growth over this period? Instruction: Round your answer to one decimal place. The trend rate of growth = percent Which set of years most clearly demonstrates an expansionary phase of the business cycle? Years through Which set of years best illustrates a recessionary phase of the business cycle? Years through

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