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)periods of increase or decrease in the rate of inflation.

Question

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)​periods of increase or decrease in the rate of inflation.

Quizplus · Accepted Answer

The term "business cycle" refers to fluctuations in economic activity, particularly measured by changes in GDP or unemployment rates. These cycles typically include periods of expansion (growth), followed by contraction (recession), and are a regular feature of most modern economies.

Economists Use the Term "Business Cycle" to Refer To