What are the two key terms of the business cycle?
A) contraction and expansion
B) inflation and recession
C) trend and random variation
D) inflation and deflation

Question

Quizplus · Accepted Answer

The two key terms of the business cycle are contraction and expansion. During the contraction phase, the economy is in a downturn or recession, while during the expansion phase, the economy is growing and experiencing prosperity.

What Are the Two Key Terms of the Business Cycle