Which of the following refers to business cycles?
A) Variations in the economy that are all equal in intensity
B) Seasonal variations in the economy that occur every year
C) Fluctuations in economic output that show a declining growth pattern over time
D) Periodic but irregular variations in economic activity
E) Fluctuations in the profits that businesses in an economy earn over a period of time

Question

Quizplus · Accepted Answer

Business cycles refer to the periodic but irregular variations in economic activity, which include fluctuations in employment, production, and income levels. These cycles typically consist of four phases: expansion, peak, contraction, and trough.

Which of the Following Refers to Business Cycles