*A business cycle reflects changes in economic activity, particularly real GDP. The stages of a business cycle are:
A. trough, expansion, recession, peak
B. contraction, recession, expansion, boom
C. expansion, trough, recession, peak
D. expansion, peak, recession, trough
Answer:D
*A business cycle reflects changes in economic activity, particularly real GDP. The stages of a business cycle are:
A. trough, expansion, recession, peak B. contraction, recession, expansion, boom C. expansion, trough, recession, peak D. expansion, peak, recession, trough
Explanation: Type: Multiple Choice