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    WHAT77's Avatar
    WHAT77 Posts: 2, Reputation: 1
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    #1

    Mar 1, 2016, 12:22 PM
    Important macroeconomics questions
    1.What is the business cycle and its main components? Would you rather live in a world without it? How do you think business cycles and politics are connected and does it present a specific challenge to democracies?

    This is a macroeconomics question. Please help me answer this ASAP. i know what a business cycle is and what its main components are. However, i am unsure as of how to answer the second part of the question.
    Curlyben's Avatar
    Curlyben Posts: 18,482, Reputation: 1857
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    #2

    Mar 1, 2016, 12:23 PM
    What do YOU think ?
    While we're happy to HELP we wont do all the work for you.
    Show us what you have done and where you are having problems..
    WHAT77's Avatar
    WHAT77 Posts: 2, Reputation: 1
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    #3

    Mar 1, 2016, 12:32 PM
    Quote Originally Posted by Curlyben View Post
    What do YOU think ?
    While we're happy to HELP we wont do all the work for you.
    Show us what you have done and where you are having problems..
    I don't want you to do the work for me, I want you to help me move in the right direction.

    This is what I've got so far The business cycle consists of alternating periods of economic growth and contraction. They are inherent in market economies. Changing forces in supply and demand drives market-based economies. A key measure of cycles is the rise and fall in real GDP, which mirrors changes in employment and other key measures of the macro economy. Although business cycles vary in duration and intensity, one thing they all have in common is the four phases each cycle is divided into; the peak, recession, trough, and recovery. The peak is the phase of the business cycle in which real GDP reaches its maximum after rising during a recovery. The recession is a downturn in the business cycle during which real GDP declines, and the unemployment rate rises. This is also referred to as a contraction. The trough is the phase of the business cycle in which real GDP reaches its minimum after falling during a recession. Finally, the recovery or expansion is an upturn in the business cycle during which real GDP rises.

    I think its better to live in a world WITH a business cycle? Do you agree?
    Also I'm not sure what its relation is to politics.

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