The business cycle represents the short-term changes experienced in the economy due to changes in levels of economic activity.

• Summarize the 4 different phases of the business cycle.
• List and explain three types of unemployment.
• Discuss unemployment in different phases of businesses cycle
• Find the most recent unemployment rate of your state (be sure to cite your source).
• From a personal perspective, can you explain your view of the current job market in your local area?