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What are the 5 phases of the business cycle?

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What are the 5 phases of the business cycle?

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Peak, Contraction, Trough, Recovery, and Expansion.

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How do economists measure a business cycle? Specifically: what nationwide statistic is used to track it?

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How do economists measure a business cycle? Specifically: what nationwide statistic is used to track it?

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Business cycle´s are measured from peak to peak. To track the business cycle Real GPD and Time is used.

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Briefly define the characteristics of each of the 5 phases of the business cycle.

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Briefly define the characteristics of each of the 5 phases of the business cycle.

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Peak: Real GDP is temporary high. Contraction: GDP decreases then the economy is in contraction. Trough: once it stops declining then the only way it goes is up. Recovery: It goes up until it reaches its peak. Expansion: Increases in real GDP after recovery.

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Why might an economist say the US is "experiencing a recession"? What phase of the business cycle do they observe and for how long? 

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Why might an economist say the US is "experiencing a recession"? What phase of the business cycle do they observe and for how long? 

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Economist say the US is ¨experiencing a recession¨ because when covid-19 hit everything just crashed, jobs were lost production slowed/stopped and everything was just at a low.

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What are three possible leading indicators of good economic performance? For each one, what do these indicators show about the mindset of investors, business-owners, or the federal government?

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What are three possible leading indicators of good economic performance? For each one, what do these indicators show about the mindset of investors, business-owners, or the federal government?

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When investors see production slowing down and potentially stopping they would want to take out their investment.

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Which one of these possible causes do you think has the biggest impact in an economy? Why do you think that is?

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Which one of these possible causes do you think has the biggest impact in an economy? Why do you think that is?

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I believe that would be the fact that a lot of production companies slowed/stopped production. That caused low stock on products and for people to go crazy shopping.