Stage of the business cycle
What stage of the business cycle is our economy experiencing at present time? proof your answer.
Expert
There are many phases of a business cycle. Starting from a peak we go down into a recession to reach a trough. From this low point we have a recovery till the next peak is attained. US economy is currently in RECOVERY phase as it tries to increase GDL from the low point of 2009 financial meltdown. Unemployment is falling from its peak levels , inflation is stable and there are signs of improving consumer and business confidence.
The consumer reaches equilibrium for any two goods X and Y whenever the: (1) MUx/Px = MUy/Py. (2) MUx/MUy = Py/Px. (3) Utility from X equivalents the utility produced by Y. (4) Point of diminishing returns is arrived at. Can someon
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