5. A business cycle is the a. period of time in which expansion and contraction of economic...

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5. A business cycle is the

a. period of time in which expansion and contraction of economic activity are equal.

b. period of time in which there are three phases: peak, depression, and recovery.

c. recurring growth and decline in real GDP.

d. period of time in which a business is established and ceases operations.

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Economics For Today

ISBN: 9781594632914

6th Edition

Authors: Irvin B. Tucker

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