1. Define business cycle and explain the concepts of expansion and recession
2. Identify (plot out) using Gapminder World ( https://www.gapmlnder.org/world/ )the
business cycle for the US. and any other country of your choice (In the same graph).
rl’ake a screen shot of your graph for submission]
3. Show that you have a deeper understanding of your graph in 2. Is the US. better off
or worse off in terms of GDP compared to the other country of your choice?
4. Enumerate 8 possible reasons Why the depiction in answer 2 may not represent the
relative wellbeing of people in the US. compared to the other country of your choice.
[See limitations to using GDP as a measure of wellbeing]
5. Assess your response in 4 using 2 variables (any 2 variables you desire) from
Gapminder World to support your answer in 4. Again show the graph for the U.S. and
the other country of your choice [be creative].
6. Scrutinlze how could the US. achieve higher economic growth?
