The Business Cycle Is Composed of Three Phases: Prosperity, Depression

question 106

True/False

The business cycle is composed of three phases: prosperity, depression, and recovery.

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Definitions:

Mary McLeod Bethune

An African American educator and civil rights leader who founded the National Council of Negro Women and played a significant role in the New Deal government.

New Deal

A series of programs, public work projects, financial reforms, and regulations enacted by President Franklin D. Roosevelt in the United States during the 1930s to counteract the effects of the Great Depression.

Agricultural Policies

Strategies and regulations implemented by governments to influence their agricultural sector's economic activities, including subsidies, tariffs, and farming guidelines.

Landless Farmworkers

Agricultural laborers who do not own the land on which they work, often living in conditions of poverty and dependency.