Asked by Matthew Pereira on May 16, 2024
Verified
The period between two successive peaks in a business cycle is called a contraction.
Business Cycle
The natural rise and fall of economic growth over time, consisting of periods of expansion, peak, contraction, and trough.
Successive Peaks
Repeated achieving of higher levels or values in a given sequence, often used in the context of economic growth, stock market performance, or other measurements of success.
Contraction
A phase of the business cycle where there is a decline in national output and economic activity.
- Discern the essential economic challenges faced historically and their impact on the economy, highlighting episodes of stagflation and severe financial distress.
Verified Answer
BK
Brenda KizerMay 21, 2024
Final Answer :
False
Explanation :
The period between two successive peaks in a business cycle is actually called an expansion. A contraction refers to the period between a peak and a trough in the business cycle.
Learning Objectives
- Discern the essential economic challenges faced historically and their impact on the economy, highlighting episodes of stagflation and severe financial distress.