Topic 2.7- Business Cycles 1. Use the graph to identify the following: Potential Output GDP Peak Recession (contraction) Trough Expansion ( recovery) 2. Which type(s) of unemployment exist when the economy is at point B? 3. Label a new point (F) where the coonomy is Time at the natural rate of unemployment Identify each of the following on the circular flow diagram for a closed economy: Consumer Spending Investment Public Borrowing Government Spending National Income Public Savings Factor Payments Private Borrowing Resources (2) Goods/Services (2) Private Savings Revenue Taxes (2) Resource Market Financial Sector Businesses Households Government Product Market Do not post online. @ Copyright Jacob Clifford, ACDC Leadership, 2019