Short-run ﬂuctuations in output and employment are referred to as
A) economic growth.
B) business cycles.
C) inventory cycles.
D) recession and inﬂation.

Question

Quizplus · Accepted Answer

Short-run fluctuations in output and employment are referred to as business cycles. Economic growth refers to long-term increases in output and productivity. Inventory cycles refer to fluctuations in the stock of unsold goods. Recession and inflation are specific phases of the business cycle.

Short-Run ﬂUctuations in Output and Employment Are Referred to as