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Questions and Answers
Which of the following is a characteristic of the expansion phase of the business cycle?
What is the primary cause of a recession in the business cycle?
What is the duration of a typical business cycle?
Study Notes
Business Cycle Characteristics
- The expansion phase of the business cycle is characterized by economic growth, increasing production, and rising employment.
Causes of Recession
- The primary cause of a recession in the business cycle is a significant decline in aggregate demand, often triggered by a combination of factors such as high interest rates, reduced consumer spending, and supply chain disruptions.
Business Cycle Duration
- The duration of a typical business cycle varies, but it usually lasts around 5-7 years, with expansions often lasting longer than recessions.
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Description
Test your knowledge of the business cycle with this quiz! Explore the different phases of the cycle, including the expansion phase, and learn about the key characteristics of each. Discover the typical duration of a business cycle and what factors contribute to a recession. Challenge yourself and see how much you know about the ups and downs of the economy.
