Study guides, Class notes & Summaries

1. Business cycles occur when output A. falls below its potential B. rises above its potential C. is fixed at its potential D. fluctuates around its growth trend 2. Which of these statements best describes a complete individual business cycle? A. Movement from peak to trough to peak B. Movement from recession to expansion C. Movement from peak to recession to trough D. Movement from trough to expansion then to peak 3. During the business cycle, the period between the point at which output reache...