A business cycle is the:
A) period of time in which expansion and contraction of economic activity are equal.
B) period of time in which there are three phases: peak, depression, and recovery.
C) recurring growth and decline in real GDP.
D) period of time in which a business is established and ceases operations.
Correct Answer:
Verified
Q1: How do we measure economic growth?
A) increases
Q2: Economists use the phrase "business cycle" when
Q3: Which of the following will most likely
Q5: Exhibit 6-1 Business cycle Q6: Which phase of the business cycle follows Q7: The business cycle consists of four phases. Q8: Which of the following is associated with Q9: Which of the following will most likely Q10: Exhibit 6-1 Business cycle Q14: Which of the following is true of
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