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:

Minimizing Losses

A strategy or approaches taken to reduce the amount of loss incurred in a business operation or investment.

Price Discrimination

A pricing strategy where identical or largely similar goods or services are sold at different prices by the same provider in different markets or to different segments of consumers.

Senior Citizen Discounts

Discounts offered to elderly individuals, typically those aged 65 and older, to reduce the cost of goods and services for them.

Movie Tickets

The admission passes purchased to view films in theaters.