Which phase of the business cycle would be most closely associated with an economic contraction?

Question

Quizplus · Accepted Answer

An economic contraction is characterized by a decline in economic output, employment, and trade. This phase is commonly referred to as a recession. The trough phase comes after the recession and marks a turning point for the economy, where the contraction ends and the recovery begins. The peak phase is the highest point of economic growth before the contraction and the recovery phase follows after the trough phase, where the economy begins to grow again.

Which Phase of the Business Cycle Would Be Most Closely