Q1a) Compare and explain the business cycle for any three of the countries listed in table 1.1 (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: U.S.A, 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.
             U.S.@ As you can see from the table and graph below the U.S.A 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 U.S.A 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 shouldn't have been a big worry for the government but the 4.5% 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 U.S.A 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 U.S.A 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 U.S.A 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 below you can see that they have done tough in the last 8 years. There is no real trend during these years, with economy going up and down from year to year. From 1994 –...