
-Refer the above figure. Stage "2" of the economy is called
A) a contraction.
B) a peak.
C) a trough.
D) an expansion.
Correct Answer:
Verified
Q397: When the economy is experiencing a contraction,
Q398: How has the pattern of fluctuations in
Q399: A severe and prolonged recession is called
A)
Q400: Q401: What is the business cycle? How "cyclical" Q403: A business fluctuation when the pace of Q404: The period between the trough and the Q405: According to business activity charts for the Q406: Typically during a recession Q407: ![]()
A) incomes fall, and![]()
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