Answer to Question #162137 in Macroeconomics for John Dixon

Question

Question: The more or less regular pattern of expansion (recovery) and contraction (recession) in economic activity around the path of trend growth are known as:

Answer Choices Below [1 Correct Answer] -

A. Potential Cycles

B. Economics Cycles

C. Business Cycles

D. Price Cycles

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Answer 1

B. Economics Cycles

The length of a business cycle is the period of time containing a single boom and contraction in sequence. These fluctuations typically involve shifts over time between periods of relatively rapid economic growth and periods of relative stagnation or decline.