The growth rate of output and employment in a country started declining after rising sharply for three years.In which stage of the business cycle is the country currently operating?

Question

Quizplus · Accepted Answer

The country is currently operating at the Peak stage of the business cycle, as this stage is characterized by the highest point of economic activity before a decline begins, which matches the scenario of growth rate of output and employment declining after rising sharply.

The Growth Rate of Output and Employment in a Country