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Economics for Today 9th Edition by Irvin Tucker
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Key Concept: Business Cycle
A business cycle is the period of time in which:
A) a business is established and ceases operations.
B) there are four phases which are: peak, recession, trough, and expansion.
C) the price level varies with real GDP.
D) expansion and contraction of economic activity are equal.
E) None of the answers above are correct.
A business cycle is the period of time in which:
A) a business is established and ceases operations.
B) there are four phases which are: peak, recession, trough, and expansion.
C) the price level varies with real GDP.
D) expansion and contraction of economic activity are equal.
E) None of the answers above are correct.
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A business cycle has four phases: peak (...
Economics for Today 9th Edition by Irvin Tucker
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