Which of the Following About Business Cycles Is True

question 27

Multiple Choice

Which of the following about business cycles is true?

• A) A "depression" is a recession that is mild and relatively brief.
• B) The expansions and contractions of business cycles last varying lengths of time.
• C) The timing of business fluctuations is regular and, therefore, easily predictable.
• D) During the recessionary phase of the business cycle, the rate of unemployment is generally quite low.

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Definitions:

Service Industry

An economic sector focused on providing services rather than manufacturing goods, including industries like hospitality, finance, healthcare, and education.

Economic Insecurity

The condition of lacking stable financial resources or income, creating uncertainty and risk regarding an individual's or household's well-being and future.

Working Class

A social group consisting of people employed in lower tier jobs, often involving manual labor and receiving lower pay.

Selective Recruitment

The process of targeting specific individuals or groups for recruitment based on predetermined criteria.