&gt; Back before 2008, I used to teach my students that during a disturbance in the business cycle, we&#x27;d be 40 percent of the way back to normal in a year. The long-run trend of economic growth, I would say, was barely affected by short-run business cycle disturbances. There would always be short-run bubbles and panics and inflations and recessions. They would press production and employment away from its long-run trend -- perhaps by as much as 5 percent. But they would be transitory.<p>Wait, how do you know this isn&#x27;t the long-term trend now?