As it relates to economic growth, the term long-run trend refers to
A) the long-run increase in the relative importance of durable goods in the U.S. economy.
B) the long-term expansion or contraction of business activity that occurs over many years.
C) fluctuations in business activity that average 40 months in duration.
D) fluctuations in business activity that occur around Christmas, Easter, and other major holidays.
Correct Answer:
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