In a business cycle, a period from peak to trough may be referred to asan expansiona contractiona recurrenceO all of the abovenone of the above

Answered: In a business cycle, a period from peak…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

In a business cycle, a period from peak to trough may be referred to as
an expansion
a contraction
a recurrence
O all of the above
none of the above

Expert Solution

Introduction

The business cycle is a phenomenon which explains the trend of the output in the economy. As per the business cycle when output increases then a point is achieved when it is maximum and after that it starts decreasing and reach to a minimum point. And after that it start increasing again, and this process gets repeated.

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