Describe the expansion and recession phases of the business cycle

Asked by admin @ 29/10/2021 in Business viewed by 270 People

What are the phases in a business cycle?

A) expansion – peak – recession – trough
B)expansion – recession – peak – trough
C) peak – trough – expansion – recession
D) expansion – trough – recession – peak

Answered by admin @ 29/10/2021

What are the phases in a business cycle?

The correct answer is:
A) expansion – peak – recession – trough

The term “business cycle” (or economic cycle or boom-bust cycle) refers to economy-wide fluctuations in production, trade, and general economic activity. From a conceptual perspective, the business cycle is the upward and downward movements of levels of GDP (gross domestic product) and refers to the period of expansions and contractions in the level of economic activities (business fluctuations) around a long-term growth trend.
The business cycle starts from a trough (lower point) and passes through a recovery phase followed by a period of expansion (upper turning point) and prosperity. After the peak point is reached there is a declining phase of recession followed by a depression. Again the business cycle continues similarly with ups and downs.

Able, baker, and charles are engaged in the marketing to and enrollment of beneficiaries into medicare health plans. mr. able is an independent agent paid directly by a health plan. ms. baker is an independent agent paid through a field marketing organization (fmo). mr. charles is an independent agent paid for his work by a third-party marketing organization (tmo). how do the cms compensation rules apply to these three agents?

Asked by maham237 @ 13/01/2021 in Business viewed by 2752 persons

Describe the expansion and recession phases of the business cycle

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