The falling phase of a business cycle measured by a decrease in real GDP is called:
A)hyperinflation.
B)expansion.
C)recession.
D)peak.

Question

Quizplus · Accepted Answer

The term used to describe a decrease in real GDP is recession, which is the falling phase of a business cycle. Hyperinflation refers to a sustained increase in the general price level of goods and services, Expansion is a period of economic growth and Peak is the highest point of a business cycle.

The Falling Phase of a Business Cycle Measured by a Decrease