The short-run,but sometimes sharp,contractions and expansions in economic activity are called
A)recession.
B)stagnation.
C)inflation.
D)business cycles.

Question

Quizplus · Accepted Answer

Business cycles refer to the short-run fluctuations in economic activity, including both expansions and contractions. Recession is a part of the business cycle marked by a significant contraction in economic activity, but it is not the only component of the business cycle. Stagnation refers to a prolonged period of slow or stagnant economic growth, while inflation refers to a sustained increase in the general level of prices over time.

The Short-Run,but Sometimes Sharp,contractions and Expansions in Economic Activity Are