ECONOMICS
BUSINESS CYCLES
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Read the following headline and choose the condition that correspond with the business cycle.Due to factory closures unemployment has risen to a five year high of 10%
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Peak
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Contractionary
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Trough
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Growth
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Explanation:
Detailed explanation-1: -In general, the business cycle consists of four distinct phases: expansion; peak; contraction; and trough.
Detailed explanation-2: -The business cycle model shows the fluctuations in a nation’s aggregate output and employment over time. The model shows the four phases an economy experiences over the long-run: expansion, peak, recession, and trough.
Detailed explanation-3: -The four stages of the business cycle are expansion, peak, contraction, and trough.
Detailed explanation-4: -The option is true as stagflation is not a part of the business cycle.
There is 1 question to complete.