Economics · Business Cycles
With regard to business cycles, which of the following statements is not true?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1The innovations theory of business cycle is associated with the name of Joseph Schumpeter.
- 2According to Keynes, 'The trade cycle is a purely monetary phenomenon'.✓
- 3Business cycle is a part of the capitalist system.
- 4Expansion, recession, depression, and recovery are the four phases of business cycles.
Correct answer
According to Keynes, 'The trade cycle is a purely monetary phenomenon'.
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