Economists refer to fluctuations in output as the "business cycle" because movements in output are regular and predictable.

Question

Quizplus · Accepted Answer

Fluctuations in output are not always regular or predictable, and can be affected by a variety of unpredictable factors such as natural disasters, political events, and pandemics. Therefore, the term "cycle" can be misleading as it implies a set pattern.

Economists Refer to Fluctuations in Output as the "Business Cycle