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.A: 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 Co

Graph showing Annual Growth from 1994 to 2001

Q2a) identify and discuss the major determinants of aggregate demand that have contributed to the current phase of the business cycle in Australia and Japan.

Some common words found in the essay are:
Real GDP, Annual Growth, Australia Australia, Australia Consumer, USA Japan, Japan Euro, JAPAN Japan, Asian Crisis, EURO Euro, USA Euro, economic growth, business cycle, annual growth, aggregate demand, business confidence, reserve bank australia, movement rates, countries experienced, phase business, inflation rate, bank australia, negative economic growth, business cycle theory, phase business cycle, drop business confidence,
Approximate Word count = 1853
Approximate Pages = 7 (250 words per page double spaced)