Referencing Styles : Not Selected a) Based on the above article what phase of the business cycle is the Indian economy experiencing in 2016? Justify your answer with reference to economics theory and support your analysis with a graph showing where the Indian economy is operating. (8 marks) b) How would the falling energy costs affect the Indian economy in 2016? Why? Show this effect in your graph from a). (5 marks) c) What macroeconomic indicator should be monitored closely in India in 2016? What can the Reserve bank of India do to control this indicator? (You may need to do some research into Topics 10-11 by yourself). (7 marks)