Multiple Choice
The contraction phase of a business cycle is best described as:
A) the time elapsed from a trough to a peak.
B) the time elapsed from a peak to a trough.
C) the time elapsed from a peak to a peak.
D) the time elapsed from a trough to a trough.
E) the time spent producing below the long-run trend of GDP.
Correct Answer:
Verified
Correct Answer:
Verified
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