Question

ECON2301 CH4 - 25 POINTS
The graph shows a business cycle for a hypothetical economy. Label all five areas on the graph using the appropriate economic term. Some of the terms may refer to more than one area on the graph, and some terms may not refer to any of the areas on the graph.

WORD BANK
- trough
- summit
- rebound
- expansion
- peak
- bunny slope
- recession

Answer 1

Based on the events in the economy at various stages, the areas of the graph as attached is correct.

Parts of the Economic cycle

The highest part is called the peak and this is where the economy is performing at its best. The troughs are the lowest and the economy is at its worst here.

Recessions are periods of economic decline and expansions are periods where the economy is in recovery and on its way to the peak.

Find out more on the economic cycle at https://brainly.com/question/26086110.