What term do economists use for the pattern of short-term expansions and contractions in the economy?
A) Business cycle
B) Aggregate output
C) Standard of living
D) Consumer price index
E) Purchasing power parity

Question

Quizplus · Accepted Answer

Economists refer to the pattern of short-term expansions and contractions in the economy as the business cycle. It is characterized by fluctuations in economic activity, including changes in output, employment, and prices over time.

What Term Do Economists Use for the Pattern of Short-Term