Which of the following phases of a business cycle are marked by an underuse of resources? 1. The trough. 2. The peak. 3. The recovery. 4. The recession.
A) 1 and 3 only
B) 1 and 4 only
C) 2 and 3 only
D) 2 and 4 only

Question

Quizplus · Accepted Answer

The trough and recession phases are marked by an underuse of resources, as economic activity is low and unemployment is typically higher.

Which of the Following Phases of a Business Cycle Are