Economists Use the Term "Business Cycle" to Refer to

question 116

Multiple Choice

Economists use the term "business cycle" to refer to

• A) the growth of small businesses into major corporations.
• B) changes in products that occur from improved technology.
• C) fluctuations in the level of real output and employment.
• D) periods of increases and decreases in the rate of inflation.

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Definitions:

Descriptive Statistics

Statistical procedures that organize and summarize research data.

Statistically Meaningful

Refers to results or data that are significant enough from a statistical standpoint to indicate a non-random pattern or effect.

Inferences

The process of drawing logical conclusions from premises known or assumed to be true.

Meta-Analysis

A statistical technique that combines the results of multiple scientific studies to arrive at a conclusion about an overall body of research.