Macroeconomics
How does the trough facilitate the transition from recession to expansion in the business cycle?
Why is expansion considered a period of economic recovery in the business cycle?
What does a peak on a business cycle graph represent?
What does the peak in the business cycle signify?
Which term is used interchangeably with 'recession' in the business cycle?
An economy is currently experiencing increased production and employment. Which phase is it likely in, and what is the next expected phase?
An economy has reached its peak in the business cycle. What is the likely next phase, and what does it indicate?
On a business cycle graph, what does the point at the lowest level of production represent?
Which phase of the business cycle is characterized by increasing employment and production?
During a recession, what typically happens to employment and production levels?
