ECONOMICS
BUSINESS CYCLES
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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movement of the economy
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movement of the economy from one condition to another and back again
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has 4 phases
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a business going around in a cycle
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Detailed explanation-1: -What Is a Business Cycle? Business cycles are a type of fluctuation found in the aggregate economic activity of a nation–a cycle that consists of expansions occurring at about the same time in many economic activities, followed by similarly general contractions (recessions).
Detailed explanation-2: -The business cycle is a term used by economists to describe the increase and decrease in economic activity over time. The economy is all activities that produce, trade, and consume goods and services within the U.S.-such as businesses, employees, and consumers.
Detailed explanation-3: -Who measures business cycles? In the US, business cycles are defined and measured by the National Bureau of Economic Research (NBER), a private nonprofit. NBER’s Business Cycle Dating Committee is responsible for determining the start and end of a cycle.