In which industry or sector of the economy is output least likely to be affected by the business cycle?
A) housing construction
B) automobile production
C) medical services
D) capital goods production

Question

Quizplus · Accepted Answer

Medical services are considered a necessity and not as sensitive to changes in the business cycle as housing construction, automobile production, and capital goods production. People need medical care regardless of the state of the economy, and therefore medical services are less likely to be affected by the business cycle.

In Which Industry or Sector of the Economy Is Output