The business cycle describes the
A. progression of an industry's structure from monopoly to perfect competition.
B. progression of an industry's structure from perfect competition to monopoly.
C. expansion and contraction of an individual industry within the economy.
D. expansion and contraction of economic activity in the economy as a whole.
Answer:D
The business cycle describes the
A. progression of an industry's structure from monopoly to perfect competition. B. progression of an industry's structure from perfect competition to monopoly. C. expansion and contraction of an individual industry within the economy. D. expansion and contraction of economic activity in the economy as a whole.