{
  "id": "business-cycle",
  "name": "Business cycle",
  "unit": "macro",
  "unitName": "Unit 3 · Macroeconomics",
  "topic": "Economic activity",
  "hl": false,
  "description": "Actual real GDP fluctuates around the long-term growth trend (potential output), moving through expansions, peaks, recessions and troughs.",
  "keywords": [
    "business cycle",
    "trade cycle",
    "output gap",
    "peak",
    "trough",
    "recession",
    "expansion",
    "potential output",
    "trend growth"
  ],
  "schemaUrl": "https://graphs.lectere.com/api/v1/templates/business-cycle",
  "previewUrl": "https://graphs.lectere.com/thumbs/business-cycle.svg",
  "editorUrl": "https://graphs.lectere.com/graph/business-cycle/",
  "params": [
    {
      "key": "turning",
      "label": "Label peaks and troughs",
      "default": true,
      "type": "boolean"
    },
    {
      "key": "phases",
      "label": "Label expansion and recession",
      "default": true,
      "type": "boolean"
    },
    {
      "key": "gaps",
      "label": "Shade output gaps",
      "default": false,
      "type": "boolean"
    },
    {
      "key": "amp",
      "label": "Size of fluctuations",
      "default": 1,
      "group": "Shape",
      "type": "number",
      "min": 0.4,
      "max": 1.6,
      "step": 0.05
    },
    {
      "key": "period",
      "label": "Cycle length",
      "default": 4.2,
      "group": "Shape",
      "type": "number",
      "min": 3,
      "max": 6,
      "step": 0.1
    },
    {
      "key": "growth",
      "label": "Trend growth rate",
      "default": 0.5,
      "group": "Shape",
      "type": "number",
      "min": 0,
      "max": 0.8,
      "step": 0.05
    }
  ],
  "defaults": {
    "turning": true,
    "phases": true,
    "gaps": false,
    "amp": 1,
    "period": 4.2,
    "growth": 0.5
  },
  "panels": [
    {
      "id": "main",
      "title": null,
      "xLabel": "Time",
      "yLabel": "Real GDP",
      "xRange": [
        0,
        10
      ],
      "yRange": [
        0,
        10
      ],
      "axisKeys": {
        "x": "main:x",
        "y": "main:y"
      }
    }
  ],
  "labels": [
    {
      "key": "main:y",
      "default": "Real GDP",
      "hint": "Vertical axis",
      "panel": "main"
    },
    {
      "key": "main:x",
      "default": "Time",
      "hint": "Horizontal axis",
      "panel": "main"
    },
    {
      "key": "main.trend",
      "default": "Long-term trend",
      "hint": "Curve",
      "panel": "main"
    },
    {
      "key": "main.actual",
      "default": "Actual output",
      "hint": "Curve",
      "panel": "main"
    },
    {
      "key": "main.peak0",
      "default": "Peak",
      "hint": "Point",
      "panel": "main"
    },
    {
      "key": "main.peak1",
      "default": "Peak",
      "hint": "Point",
      "panel": "main"
    },
    {
      "key": "main.trough0",
      "default": "Trough",
      "hint": "Point",
      "panel": "main"
    },
    {
      "key": "main.trough1",
      "default": "Trough",
      "hint": "Point",
      "panel": "main"
    },
    {
      "key": "main.recession",
      "default": "Recession",
      "hint": "Text",
      "panel": "main"
    },
    {
      "key": "main.expansion",
      "default": "Expansion",
      "hint": "Text",
      "panel": "main"
    }
  ],
  "elements": [
    {
      "key": "main.trend",
      "kind": "curve",
      "label": "Long-term trend"
    },
    {
      "key": "main.actual",
      "kind": "curve",
      "label": "Actual output"
    },
    {
      "key": "main.peak0",
      "kind": "point",
      "label": "Peak"
    },
    {
      "key": "main.peak1",
      "kind": "point",
      "label": "Peak"
    },
    {
      "key": "main.trough0",
      "kind": "point",
      "label": "Trough"
    },
    {
      "key": "main.trough1",
      "kind": "point",
      "label": "Trough"
    },
    {
      "key": "main.recession",
      "kind": "text",
      "label": "Recession"
    },
    {
      "key": "main.expansion",
      "kind": "text",
      "label": "Expansion"
    }
  ],
  "stats": null,
  "example": {
    "template": "business-cycle",
    "params": {
      "turning": true,
      "phases": true,
      "gaps": false,
      "amp": 1,
      "period": 4.2,
      "growth": 0.5
    }
  }
}