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Between a trough and a peak, the economy goes through a(n)

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Between a trough and a peak, the economy goes through a(n)

Question 1.

A prolonged and deep recession is called

▸ a business cycle.

▸ a depression.

▸ a stagflation.

▸ hyperinflation.

Question 2.

Between a trough and a peak, the economy goes through a(n)

▸ recession.

▸ bust.

▸ expansion.

▸ hyperinflation.

Textbook

Principles of Economics

Edition: 12^th

Authors: Case, Fair, Oster

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