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Business Cycle and Economic Terms
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Business Cycle and Economic Terms

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Questions and Answers

During which phase of the business cycle is the economy growing, but at a decreasing rate?

  • Expansion
  • Trough
  • Recovery
  • Peak (correct)

    • What is the term for the recurring expansion and contraction of economic activity?

  • Recession cycle
  • Boom-bust cycle
  • Growth cycle
  • Trade cycle (correct)

    • Which of the following best describes the 'trough' phase of the business cycle?

  • Period of high unemployment and low production (correct)
  • Stable period with consistent economic activity
  • Phase of rapid economic growth and prosperity
  • Transition period between expansion and recession

    • What is the term for the sustained increase in the general price level of goods and services in an economy over a period of time?

    <p>Inflation</p> Signup and view all the answers

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