What is the economy’s current stage in the business cycle? Support your answer with data on the real GDP growth rate, the unemployment rate, and the CPI inflation rate. You may obtain these data from the Bureau of Economic Analysis website (http://www.bea.gov/) and the Bureau of Labor Statistics website (http://www.bls.gov/).
What is aggregate demand (AD)? What is aggregate supply (AG)? Why is the downward slope of the AD curve the result of real balances effect, the interest rate effect and the foreign purchases effect