All of the following are parts of the business cycle except ?
Correct answer: D. acceleration
- A. boom
- B. slump
- C. recovery
- D. acceleration
Explanation
The usual business-cycle phases are boom, slump or recession, trough, and recovery. Acceleration describes a rising rate of growth, not a standard phase of the cycle.
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About Macroeconomics
The economy is studied as a whole through national income, gross domestic product, inflation, unemployment, economic growth and business cycles. Coverage includes aggregate demand and supply, consumption and investment, money and banking, fiscal and monetary policy, exchange rates and balance of payments, which distinguishes macroeconomics from the study of individual markets.
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