What are patterns of expansion and contraction in aggregate economic activity, as measured by GDP?
A) business standards
B) cyclical adjustments
C) economic yields
D) business cycles

Question

Quizplus · Accepted Answer

The patterns of expansion and contraction in aggregate economic activity, as measured by GDP, are referred to as business cycles. These cycles consist of periods of economic growth, or expansion, followed by periods of economic decline, or contraction. These cycles are often caused by fluctuations in business investment, consumer spending, and government policies.

What Are Patterns of Expansion and Contraction in Aggregate Economic