A Business Cycle Is

question 31

Multiple Choice

A business cycle is:

• A) the period of time in which the expansion and contraction of economic activity are equal.
• B) the period of time in which there are three phases, which are: peak, depression
• And recovery.
• C) the recurring growth and decline in real GDP.
• D) the period of time in which a business is established and ceases operations.

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Definitions:

Range

The gap between the maximum and minimum numbers within a dataset.

College Student

An individual who is enrolled in and attending courses at a college or university.

Interquartile Range

A measure of variability, calculated as the difference between the upper and lower quartiles, indicating the spread of the middle 50% of the dataset.

Range

The difference between the highest and lowest values in a dataset, providing a measure of the overall spread.