What is the term for the period of declining growth in real GDP between the peak of the business cycle and the trough?
A)slowdown phase
B)contractionary phase
C)stagnant phase
D)static phase

Question

Quizplus · Accepted Answer

The period of declining growth in real GDP between the peak of the business cycle and the trough is known as the contractionary phase. During this phase, the economy is experiencing a decrease in output, rising unemployment, and falling consumer spending, resulting in a contraction of the economy.

What Is the Term for the Period of Declining Growth