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thank you (a) For the following: i. What do you call a macroeconomic indicator that typically begins to change its direction of growth before an

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(a) For the following: i. What do you call a macroeconomic indicator that typically begins to change its direction of growth before an economy enters a new business cycle phase? (1 mark) ii. What do you call the indicator that typically switches into a new phase at around the same time as the business cycle switches into a new phase? (1 mark) iii. List two indicators for each ofthe two categories of indicators you answered in (i) and (ii) above. (2 marks) (b) If actual real GDP moves from being equal to potential GDP to being less than potential real GDP, does the GDP gap become positive or negative? Discuss the impact on unemployment from such a movement. (2 marks) (c) List 2 or 3 macroeconomic goals and discussion the implications of achieving them (4 marks)

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