Periodic fluctuations in real GDP are called
A) business cycles
B) recessions
C) peaks
D) expansions
E) troughs

Question

Quizplus · Accepted Answer

Business cycles refer to the periodic fluctuations in real GDP over a period of time. These cycles consist of alternating periods of expansion and recession, with peaks and troughs marking the high and low points of the cycle. Therefore, the correct choice is A) business cycles.

Periodic Fluctuations in Real GDP Are Called