Asked by Sylvia Joseph on May 16, 2024
Verified
In which quarter of which year did the prosperity phase of the business cycle begin?
Year CPI 2015100.02016105.02017112.52018124.32019141.62020148.32021151.22022152.02023152.32024151.82025150.02026145.9\begin{array} { c c } \text { Year } & \text { CPI } \\2015 & 100.0 \\2016 & 105.0 \\2017 & 112.5 \\2018 & 124.3 \\2019 & 141.6 \\2020 & 148.3 \\2021 & 151.2 \\2022 & 152.0 \\2023 & 152.3 \\2024 & 151.8 \\2025 & 150.0 \\2026 & 145.9\end{array} Year 201520162017201820192020202120222023202420252026 CPI 100.0105.0112.5124.3141.6148.3151.2152.0152.3151.8150.0145.9
Prosperity Phase
A period of economic growth and expansion, marked by high levels of production, employment, and consumer confidence.
Business Cycle
The fluctuation in economic activity that an economy experiences over a period of time.
- Recognize the different stages of the business cycle.
- Investigate economic indicators to discern intervals of downturn, prosperity, deflation, disinflation, or inflationary periods.
Verified Answer
WJ
Learning Objectives
- Recognize the different stages of the business cycle.
- Investigate economic indicators to discern intervals of downturn, prosperity, deflation, disinflation, or inflationary periods.