Peaks and troughs of the business cycle are known collectively as
A)volatility.
B)turning points.
C)equilibrium points.
D)real business cycle events.

Question

Quizplus · Accepted Answer

Peaks and troughs of the business cycle are referred to as turning points, as they mark a change in direction of the economy's performance. Option A (volatility) generally refers to the degree of sudden or unpredictable changes in economic activity. Option C (equilibrium points) refers to the point at which supply and demand intersect and the market is balanced, while option D (real business cycle events) refers to fluctuations in economic activity caused by exogenous factors such as technological changes or natural disasters, which are not directly related to the business cycle.

Peaks and Troughs of the Business Cycle Are Known Collectively