Economists use the term "business cycle" to refer to:
A)the growth of small businesses into major corporations.
B)qualitative changes in products resulting from improved technology.
C)fluctuations in economic activity, measured by GDP or unemployment.
D)increases or decreases in the rate of inflation.
E)big business houses taking over small inefficient firms.

Question

Quizplus · Accepted Answer

Economists use the term "business cycle" to refer to fluctuations in economic activity, usually measured by changes in Gross Domestic Product (GDP) or unemployment rates. The business cycle typically goes through stages of expansion, peak, contraction, and trough, which can have big impacts on the overall health of the economy.

Economists Use the Term "Business Cycle" to Refer To