PRODUCTIVITY
UNEMPLOYMENT
DEPRESSION
PROSPERITY
RECESSION
BUSINESS
RECOVERY
ECONOMY
TROUGH
GLOBAL
GROWTH
CYCLE
U
W
R
B
R
E
C
E
S
S
I
O
N
O
F
V
Y
U
L
I
A
G
H
C
Y
Q
D
Z
G
G
U
F
A
M
G
D
E
A
V
B
Y
T
I
R
E
P
S
O
R
P
O
Z
P
M
T
X
B
F
I
W
M
P
B
Y
I
Z
A
G
E
T
U
Y
I
Q
S
Q
P
L
Z
U
W
M
V
U
K
O
N
A
H
T
A
B
I
D
A
S
S
A
B
L
I
L
I
E
A
S
G
I
R
Z
V
B
F
I
Y
E
N
E
K
U
M
I
B
H
U
V
D
N
O
U
N
M
O
S
A
B
I
Y
C
L
O
Q
O
I
A
L
U
E
I
E
R
E
D
J
O
G
T
L
D
T
R
T
G
B
S
E
E
Z
I
I
I
L
A
V
R
E
O
M
T
C
S
S
C
O
H
E
S
A
P
E
L
Q
I
C
U
A
E
U
O
K
T
O
U
I
K
M
E
L
C
Y
C
O
R
T
V
D
W
D
H
I
G
O
E
C
M
U
U
U
P
N
E
L
O
O
V
L
B
H
B
N
O
A
T
S
E
X
R
O
R
I
Y
R
I
W
A
W
U
C
D
A
D
X
Y
E
G
M
U
P
D
P
A
R
M
E
V
A
L
S
U
K
I
P
Q
Y
X
I
E
A
N
