What Term Is Used to Describe an Erratic Short-Run Fluctuation

question 1

Multiple Choice

What term is used to describe an erratic short-run fluctuation in economic activity around the long-run trend?

• A)Economic depression
• B)Economic boom
• C)Business cycle
• D)Recession
• E)Diminishing returns

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Definitions:

Device

A piece of equipment designed for a particular purpose, often electronic in nature.

Demand Instrument

A financial document that requires the payment of money immediately or on demand.

Time Of Payment

The specific period or date by which payment for goods or services received must be made.

Voidable Instrument

A financial document or contract that is valid but may be annulled by one or more of the parties to the contract.