Persistence is
A)the tendency for declines in economic activity to be followed by further declines, and for growth in economic activity to be followed by more growth.
B)the idea that the standard pattern of contraction-trough-expansion-peak occurs again and again in industrial economies.
C)the tendency of many economic variables to move together in a predictable way over the business cycle.
D)the idea that peaks and troughs of the business cycle occur at regular intervals.

Question

Quizplus · Accepted Answer

Persistence in economics refers to the phenomenon where economic activity trends (either declines or growth) tend to continue in the same direction for a period of time. This means that if the economy is shrinking, it is likely to continue shrinking for a while, and similarly, if it is growing, it is likely to continue growing.

Persistence Is