The Business Cycle Consists of Four Phases

The business cycle consists of four phases. At the top we have:

A) recovery, followed by peak, and then recession followed by a recession.
B) recovery, followed by a recession, and then peak followed by recession.
C) peak, then an upturn followed by a recession, and then recession.
D) peak, then a recession followed by expansionary, and then recession.
E) peak, then a recession followed by recession, and finally, expansionary.