The misery index is defi ned as the sum of the unemployment and the infl ation rates. Use Exhibit 1- 7 to calculate the misery index for each de cade since 1960. What are the phases of a business...

The misery index is defi ned as the sum of the unemployment and the infl ation rates. Use Exhibit 1- 7 to calculate the misery index for each de cade since 1960.

What are the phases of a business cycle? Draw a graph of a typical business cycle and label the various phases.