Alternating periods of macroeconomic expansion and contraction are known as
A) hyperinflations.
B) business cycles.
C) budget surpluses and deficits.
D) trade surpluses and deficits.

Question

Quizplus · Accepted Answer

Alternating periods of macroeconomic expansion and contraction are known as business cycles. Hyperinflations refer to extremely high and rapid rises in prices, while budget and trade surpluses and deficits refer to the balance of payments between government revenues and expenditures and trade between countries.

Alternating Periods of Macroeconomic Expansion and Contraction Are Known as