The business cycle is actually a continuous series of different .
A) nominal GDP values
B) short- run macroeconomic equilibriums
C) potential GDP values
D) full- employment equilibriums

Question

Quizplus · Accepted Answer

The business cycle reflects the fluctuations in economic activity such as production, employment, and income over time. These fluctuations result in different short-run macroeconomic equilibriums, which characterize the different phases of the business cycle, including expansion, peak, recession, and trough. Therefore, B is the best choice. A, C and D are not correct because they do not fully capture the dynamic nature of the business cycle.

The Business Cycle Is Actually a Continuous Series of Different