A Business Cycle Is A

question 33

Multiple Choice

A business cycle is a:

• A)very deep and prolonged economic downturn.
• B)period in which output and employment are rising.
• C)period in which output and employment are falling.
• D)short-run alternation between economic upturns and downturns.

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Definitions:

Salvage Value

The forecasted final value of an asset once it has exhausted its functional duration.

Note Payable

A written promise to pay a specified amount of money, usually with interest, at a future date; a form of debt.

Interest Rate

The percentage of a sum of money charged for its use, typically expressed as an annual rate.

Accrued Interest

Interest that has accumulated over a period but has not yet been paid or received.