The Business cycle is at its expansionary peak when the economy is at or near full employment.

Question

Quizplus · Accepted Answer

The expansionary peak of the business cycle is characterized by high levels of economic growth, low unemployment rates, and rising inflationary pressures. At this stage, the economy is operating at or near full employment, meaning that most of the available labor resources are being utilized, and there is a relatively high demand for workers. As a result, wages tend to rise, which can fuel inflationary pressures and contribute to a tightening of monetary policy by the central bank.

The Business Cycle Is at Its Expansionary Peak When the Economy