A Business Cycle Is the Period of Time in Which

question 29

Multiple Choice

A business cycle is the period of time in which:

• A) a business is established and ceases operations.
• B) there are four phases: peak, recession, trough and expansion.
• C) the price level varies with real GDP.
• D) expansion and contraction of economic activity are equal.
• E) none of the above are true.

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Definitions:

Subconscious Associations

Links or connections made below the level of conscious awareness.

Reasonableness Standard

A legal criterion used to assess whether an individual's actions under specific circumstances were logical and fair.

Excessive Force

The use of force greater than what is necessary under the circumstances by law enforcement personnel, often a subject of legal and ethical debate.

U.S. Supreme Court

The highest federal court in the United States, holding ultimate appellate jurisdiction over all federal and state court cases that involve a point of federal law.