The Business Cycle Refers to

question 130

Multiple Choice

The business cycle refers to

• A) fluctuations in the level of real GDP around potential GDP.
• B) changes in the level of nominal GDP.
• C) changes in the level of employment.
• D) changes in the level of the stock market.

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Definitions:

Canada Revenue

Denotes the federal agency responsible for the collection of taxes and the administration of tax laws and policies in Canada.

Probability

Evaluating the likelihood of an event's occurrence.

Birthday

The anniversary of the day on which a person was born, typically celebrated as an annual event.

Probability

A measure quantifying the likelihood that an event will occur, expressed as a number between 0 and 1.