1. The Business Cycle
All businesses go through great times, where they are probably making more money than they know what to do with. ... The business cycle, according to Paul Gregory's definition in our Essentials of Economics textbook, is the pattern of upward and downward movement in the general level of real business activity. ... The average of the cycles in America, as quoted in our textbook, since 1924 has been 5 years, with the recession phases lasting one year, and the recovery phase lasting four years. ... Former president Bill Clinton is a good example, of how economics was related to a presidenti...
- Word Count: 841
- Approx Pages: 3
- Grade Level: High School