Project Summary: 1. In this week’s readings, we learned about perfect competition and monopoly. Find real-world examples of each and apply the criteria for defining markets (number of producers, similarity of production, barriers to entry) to those markets to determine how close they fit the textbook definition. (Read chapter four for answer) 2. Look up current statistics for inflation and GDP in the economy. Use these statistics to determine what phase of the business cycle the economy is currently in. Be specific as to what is going on with the aggregate supply and/or aggregate demand curves. (Read chapter five for answer)