Consider how the economy has performed throughout your life. Identify a time you believed the economy was in a peak or a trough. When was the economy expanding? When was it contracting? Describe the overall trajectory of the economy throughout your life.
In 2008 the economy contracted. Therefore, low income levels and high level of unemployment was observed.
In 2019 the economy grew (with high investment rates and growing salaries) before a sharp collapse due to COVID-19.
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