Which of the Following Best Defines the Term Business Cycle

question 187

Multiple Choice

Which of the following best defines the term business cycle?

• A) The conditions of the economic system in which an organization operates
• B) The pattern of short-term ups and downs in an economy
• C) The total quantity of goods and services produced by an economic system during a given period
• D) The measure of economic growth that compares how much a system produces with the resources needed to produce it
• E) The total quantity and quality of goods and services that a country's citizens can purchase with the currency used in their economic system

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Definitions:

Interlocking Directorates

Interlocking directorates occur when members of a company's board of directors also serve on the boards of other companies, which may lead to conflicts of interest or reduced competition.

Clayton Act

A U.S. law, enacted in 1914, aimed at increasing economic competition and preventing anticompetitive practices in their incipiency.

Federal Trade Commission Act

A landmark piece of legislation passed in 1914 aimed at promoting competition and protecting consumers from anticompetitive practices.

Celler-Kefauver Act

A United States antitrust law passed in 1950 aimed at preventing anti-competitive mergers and acquisitions by closing loopholes in the earlier Sherman Act.