The Term Business Cycle Refers To

Multiple Choice

The term business cycle refers to:

A) periodic bouts of inflation and recession that occur in a capitalist economy.
B) regular government intervention in the economy that is intended to reduce income inequality.
C) periodic government intervention into the economy that is intended to address market failures.
D) seasonal changes in the mix of goods and services produced by an economy.
E) expected declines in the level of economic activity that occur in socialist economies.