The Business Cycle Consists of Four Phases

question 50

Multiple Choice

The business cycle consists of four phases. At the top we have:

• A) expansion, followed by peak, and then trough followed by a recession.
• B) expansion, followed by a recession, and then peak followed by recession.
• C) peak, then a trough followed by a recession, and then expansion.
• D) peak, then a recession followed by a trough, and finally, recovery.

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Definitions:

New Deal Programs

A sequence of public works, regulatory measures, and financial reforms carried out by President Franklin D. Roosevelt in the 1930s in the US, aimed at mitigating the impact of the Great Depression.

Scottsboro Case

Case in which nine black youths were convicted of raping two white women; in overturning the verdicts of this case, the Court established precedents in Powell v. Alabama (1932) that adequate counsel must be appointed in capital cases, and in Norris v. Alabama (1935) that African-Americans cannot be excluded from juries.

Racism

Bias, unfair treatment, or hostility towards individuals of another race, stemming from the conviction that one's own race is superior.

Civil Liberties

The personal freedoms protected from governmental interference or deprivation, such as freedom of speech and religion.