Question

4.18  The business cycle shows …

 

 [1]     phases of economic cycles as the production output of goods and services fluctuates due to policy changes, demand factors and supply factors.

[2]     phases of economic activities as the production of goods only increases or decreases due to changes in aggregate demand.

[3]     patterns of economic fluctuations along the short-term trend.

[4]       patterns of upswings and expansion around the long-term trend

Answer 1

[1]     phases of economic cycles as the production output of goods and services fluctuates due to policy changes, demand factors and supply factors.