Asked by Genevieve McClain on Mar 10, 2024
Verified
Which ordering is correct?
A) Recession,recovery,prosperity.
B) Prosperity,recovery,recession.
C) Recession,prosperity,recovery.
D) Recovery,recession,prosperity.
A) Recession,recovery,prosperity.
B) Prosperity,recovery,recession.
C) Recession,prosperity,recovery.
D) Recovery,recession,prosperity.
Recession
A significant decline in economic activity across the economy, lasting longer than a few months, typically visible in GDP, real income, employment, and other indicators.
Prosperity
A state of economic growth and success, often characterized by financial wealth, high living standards, and an overall well-being.
Recovery
A phase in the economic cycle where output and employment grow following a recession.
- Recognize and elucidate the stages of the business cycle, including expansion, peak, recession, and trough.
Verified Answer
JG
Jordan Graham
Mar 10, 2024
Final Answer :
A
Explanation :
The correct economic cycle starts with a recession, followed by recovery, and then moves into a period of prosperity before eventually cycling back.
Learning Objectives
- Recognize and elucidate the stages of the business cycle, including expansion, peak, recession, and trough.