Economics · Business Cycle
Which of the following statements is correct regarding the phases of the business cycle?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1The peak represents the lowest point of economic activity
- 2Contraction is characterized by increasing investment and production
- 3During the expansion phase, output rises and unemployment falls✓
- 4Trough phase occurs before the recovery phase but after expansion
Correct answer
During the expansion phase, output rises and unemployment falls
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