The economy of Suielevia is under severe financial distress. Over the last few months, the economy has gradually picked up and the employment levels are slowly rising back to the normal levels. The consumers are also beginning to engage in regular buying activities. In this case, the economy of Suielevia is currently in the phase of its business cycle.

Suielevia is currently in the recovery phase of its business cycle.

Explanation:

There are five phases of business cycle which are expansion, peak, recession, trough and recovery. Recovery phase is the expansionary phase which takes place after a recession. In the recovery phase the business activities starts to improve and also the economy grows.

Suielevia which was under the financial distress has started to improve. This can be seen through employment levels are rising, purchasing of consumers has started to increase which indicates that the economy is in the recovery phase.

answer///supply is elastic, and demand is inelastic;