There are four phases of a business cycle. Identify the correct sequence of the occurrence of these phases:
A. Recovery, Recession, Expansion, Depression
B. Recovery, Expansion, Depression, Recession
C. Depression, Expansion, Recession, Recovery
D. Recovery, Expansion, Recession, Depression
Answer:D
There are four phases of a business cycle. Identify the correct sequence of the occurrence of these phases:
A. Recovery, Recession, Expansion, Depression B. Recovery, Expansion, Depression, Recession C. Depression, Expansion, Recession, Recovery D. Recovery, Expansion, Recession, Depression