The phases of a business cycle are:
A) upswing, downswing.
B) recovery, peak, recession, trough.
C) expansion, full employment plateau, recession, depression.
D) full employment phase, natural rate of unemployment phase, full employment phase.

Question

Quizplus · Accepted Answer

The business cycle consists of four main phases: recovery (or expansion), peak, recession (or contraction), and trough. These phases describe the fluctuations in economic activity that an economy experiences over a period.

The Phases of a Business Cycle Are