Consider the following figure to answer the following questions: 
-During which period was the economy in an expansion?
Definitions:
Ratios
Financial metrics used to make comparisons between different aspects of a company's performance or financial position, to assess its health, efficiency, and profitability.
Basic Earning Power Ratio
A financial metric that indicates how well a company's assets are generating income before the effects of taxes and financing costs.
Financial Leverage
The extent to which fixed-income securities (debt and preferred stock) are used in a firm’s capital structure. If a high percentage of a firm’s capital structure is in the form of debt and preferred stock, then the firm is said to have a high degree of financial leverage.
Tax Effects
The impact of taxation on an individual's or company's financial decisions or situations, especially regarding how investments and financial strategies are structured.
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