Business cycles can be described best as
A) being pervasive during the antebellum period but their effects were isolated to the private sector.
B) being pervasive during the antebellum period but their effects were isolated to the public sector.
C) being pervasive during the antebellum period and their effects were felt both in the private and public sectors.
D) uncommon during the antebellum period but their effects were felt significantly when present.

Question

Quizplus · Accepted Answer

Business cycles, characterized by alternating periods of economic growth and contraction, were pervasive during the antebellum period, and their effects were felt both in the private and public sectors. The economy experienced booms and busts, affecting businesses, labor markets, and government revenues.

Business Cycles Can Be Described Best as