_____________ is alternating periods of economic expansion and economic recession.

Question

BlackTom AI · Accepted Answer

The question asks which term describes alternating periods of economic expansion and recession.
Option 1: 'Financial crisis' refers to a specific event where financial markets experience severe disruption, not the ongoing pattern of expansions and contractions in the overall economy. It does not describe alternating cycles by itself.
Option 2: 'Economic growth' is the overall increase in a nation’s output, usually measured as GDP growth, and does not imply the alternating ups and downs characteristic of the business cycle.
Option 3: 'Seasonal unemployment' indicates job losses tied to seasonal work schedules (like agriculture or tourism), which is about predictable, periodic unemployment within a year, not the broad alternation between expansions and recessions.
Option 4: 'Business cycle' correctly denotes the recurring sequence of economic expansions (booms) and contractions (recessions) that economies experience over time, matching the description in the question.

ECON 2002.01 AU2025 (21333) Midterm Exam 2- Requires Respondus LockDown Browser

_____________ is alternating periods of economic expansion and economic recession.

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ECON 2002.01 AU2025 (21333) Midterm Exam 2- Requires Respondus LockDown Browser

_____________ is alternating periods of economic expansion and economic recession.

View Explanation

Log in for full answers

Similar Questions

Use the following diagram to answer the next question. The phases of the business cycle from points A to D are, respectively

Based on your answer to the previous question, you know that the economy is currently in a boom .

Based on your answer to the previous question, you know that the economy is currently [ Select ] in a recession at potential in a boom .

A complete business cycle is described, in appropriate order, by which of the following sequences?

Use the diagram below to answer the following question. Based on this diagram, long-run growth is represented by ___, and short-run expansion is represented by ___.

Which of the following statements best describes the relationship between ‘recession’ and ‘downturn’?

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Past Exam Questions by School

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Use the diagram below to answer the following question. Based on this diagram, long-run growth is represented by _, and short-run expansion is represented by _.