Define a business cycle - Identify (3) economic variable

1-Define a business cycle

2- Identify (3) economic variable that are used to characterize a business cycle 

3- Based upon the 3 key economic variables, what are the characteristic of a recession?

4-According to the NBER, when did the recession of (1981-1982) and (2007-2009)

5- What is the National Activity Index(NAI) 

     a)What does a positive index mean?

     b) What does a negative index mean?

     C) Explain how the NAI is used to determine a recession

6- What is the yield curve?

     a) Explain how the yield curve can be used to forecast a recession

7-Compare and contrast the recession of 1981-1982 with the recession of 2007-2009 with a detailed examination of the percentage change in Real GDP, the unemployment rate and the inflation rate.

8- Compare and contrast the number of jobs created four year into the recovery phase of each recession. Which recovery created more jobs?

MLA Format- double space-- Research Paper