BUSINESS ADMINISTRATION
BUSINESS POLICY
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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At what point on the business cycle would you have the lowest unemployment rate
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Bust
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Peak
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Recession
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Recovery
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Explanation:
Detailed explanation-1: -The lowest point on the business cycle is a trough, which is characterized by higher unemployment, lower availability of credit, and falling prices.
Detailed explanation-2: -The peak is the pinnacle of the business cycle and its opposite is the trough, which represents the lowest point in a business cycle.
Detailed explanation-3: -The business cycle can also go through more extreme phases. A boom is a period of strong economic expansion where many businesses are operating at full capacity or above capacity, and the unemployment rate is very low. Income and production are at very high levels. This can lead to rapid growth in prices.
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