The alteration between expansions and contractions in the economy's level of output is known as:
A) inflation.
B) the business cycle.
C) deflation.
D) depression.

Name: The alteration between expansions and contractions in the economy's level of output is known as: A) inflation. B) the business cycle. C) deflation. D) depression.
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Question

Quizplus · Accepted Answer

The business cycle refers to the fluctuations in economic activity that an economy experiences over a period, including expansions and contractions in the level of output.

The Alteration Between Expansions and Contractions in the Economy's Level