The Term Business Cycle Refers to the

question 33

Multiple Choice

The term business cycle refers to the

• A) short-term ups and downs in the price level.
• B) long-term trends in the price level.
• C) short-term ups and downs in the level of economic activity.
• D) long-term trends in the level of economic activity.

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Definitions:

Congress

The legislative branch of the United States government, consisting of the House of Representatives and the Senate, responsible for making federal laws.

Diplomacy

The practice of conducting negotiations between representatives of states or groups to manage international relations, resolve disputes, and facilitate agreements.

Foreign Governments

Foreign governments refer to the official governing bodies of nations other than one’s own, involved in international relations and diplomacy.

Government

Government is the system or group of people governing an organized community, often a state, setting and administrating public policy and exercising executive, political, and sovereign power.