The length of a business cycle would be measured from ?
Correct answer: B. peak to peak
- A. the slump to the expansion
- B. peak to peak
- C. peak to trough
- D. trough to peak
Explanation
A complete business cycle runs from one peak through a contraction and trough to the next peak. Measuring peak to peak therefore captures the full cycle length.
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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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