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The information below describes the real GDP per capita for the country of Bedrock for the period of 1975 to 1991.
a. If a new business cycle began in 1975, how long was this cycle?
b. The peak occurred in which year? The trough occurred in which year?
c. How long was the expansion? How long was the contraction?

Year Real GDP per Capita
1975 6,000

1976 6,300

1977 6,700

1978 7,200

1979 7,850

1980 8,250

1981 8,450

1982 8,550

1983 8,575

1984 8,510

1985 8,370

1986 8,100

1987 7,950

1988 7,925

1989 7,960

1990 8,035

1991 8,155

Microeconomics, Economics

  • Category:- Microeconomics
  • Reference No.:- M9495090

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