A review of prior business cycles allows us to conclude that the phases of different business cycles are of:
A) uniform duration, and equal intensity.
B) uniform duration, but unequal intensity.
C) non-uniform duration, but equal intensity.
D) non-uniform duration, and unequal intensity.

Question

Quizplus · Accepted Answer

Business cycles vary in both duration and intensity, meaning they do not follow a predictable pattern in terms of how long they last or how severe they are. This variability is due to the complex interplay of economic factors, policies, and external events influencing each cycle.

A Review of Prior Business Cycles Allows Us to Conclude