The short-run fluctuations in economic activity that can cause output to be above or below the long-run trend are called
A) business cycles.
B) economic contractions.
C) economic expansions.
D) economic peaks.
E) economic troughs.

Question

Quizplus · Accepted Answer

The short-run fluctuations in economic activity that cause output to be above or below its long-run trend are called business cycles. The other options (B, C, D, and E) all refer to specific points or periods within a business cycle.

The Short-Run Fluctuations in Economic Activity That Can Cause Output