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Assignment 1 Q1a Compare and explain the business cycle for any three of the countries listed in table 11 Overseas Economic Statistics from 1993 to 2001 Calculate annual percentage changes and use graphs in your answer The three countries that I have chosen for my research are as following USA Japan and the Euro Area In the table and graph below you can see the annual of growth these three countries have experienced since the year 1993 When we closely look at this data and analyze every country separately we can come to an understanding of what phase of the business cycle that certain country is experiencing USA As you can see from the table and graph below the USA have experience a sustained level of economic growth all through these 8 years with the exception of 2001 and 1995 In these two years the USA have experienced somewhat of a concretionary stage which is when GDP Annual Growth increases at a slower rate than the year previously The 1 drop in 1995 shouldnt have been a big worry for the government but the 45 drop in 2001 would have been somewhat of a worry as it followed the Asian economic crisis of the year before But Luckily in both cases the USA were able to come out of these Concretionary phases within the next year recording 1 of extra growth in 1996 and 1 8 in the first quarter of 2002 Overall the USA have experienced the most amount annual economic growth than the other two countries in this table But lets not forget how big and strong the USA is and the impact it has on every economy worldwide which is why sustained economic growth must be kept in order to keep all the other economies that depend on them at peace JAPAN Japan has been renowned as a world leader in economies but looking at the figures
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