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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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