What is called the sequence of economic activity which is typically characterized by recession, fiscal recovery, growth and fiscal decline ?
Correct answer: B. Business Cycle
- A. Economic Cycle
- B. Business Cycle
- C. Complete Cycle
- D. Cycle Business
Explanation
The business cycle is the recurring pattern of recession, recovery, expansion or growth, and decline in overall economic activity. The term economic cycle is sometimes used broadly, but business cycle is the standard economics term.
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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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