1. Growth and the Business Cycle (or Trade Cycle)

2. Growth and the business cycle Actual and potential economic growth

3. v x y O Making fuller use of resources Food Clothing Production inside the production possibility curve

4. O Growth in potential output Food Clothing Now

5. O Food Clothing Now Growth in potential output 5 years’ time

6. O Food Clothing Growth in potential and actual output

7. O Food Clothing Growth in potential and actual output x y

8. Growth and the business cycle The business cycle

9. O National output Time Potential output 1 2 3 4 1 2 3 4 Actual output The business cycle

10. O National output Time Potential output Actual output Trend output The business cycle

11. Growth and the business cycle The business cycle in practice The business cycle in practice

12. Annual growth rate (%) UK Growth rates in selected industrial countries

13. Annual growth rate (%) UK Growth rates in selected industrial countries

14. Annual growth rate (%) UK France Growth rates in selected industrial countries

15. Annual growth rate (%) UK France Growth rates in selected industrial countries

16. Annual growth rate (%) UK France Germany Growth rates in selected industrial countries

17. Annual growth rate (%) UK France Germany Growth rates in selected industrial countries

18. Annual growth rate (%) UK France USA Germany Growth rates in selected industrial countries

19. Annual growth rate (%) UK France USA Germany Growth rates in selected industrial countries

20. Annual growth rate (%) UK France USA Germany Japan Growth rates in selected industrial countries

21. Annual growth rate (%) UK France USA Germany Japan Growth rates in selected industrial countries