Asked by
Chris Spease
on Nov 30, 2024Verified
In a three-phase business cycle,the recovery phase is always followed immediately by ______.
A) the peak
B) the trough
C) recession
D) prosperity
Business Cycle
The cyclical pattern of economic growth characterized by phases of expansion, peak, downturn, and recovery, which naturally progresses over time.
Recovery Phase
A period in the economic cycle where economic activity starts to increase again after a recession, leading to growth in GDP and employment.
Prosperity
A state of economic well-being and flourishing, characterized by financial success and material wealth.
- Comprehend the phases of the business cycle and their characteristics.
Verified Answer
SB
Learning Objectives
- Comprehend the phases of the business cycle and their characteristics.