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goji.go goji.go
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11 years ago
Name the four parts of the business cycle and describe how they relate to each other.
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Diesel
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bbb
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11 years ago
The peak of a business cycle occurs when the economy is at its strongest. The peak occurs when expansion ends and recession begins. A recession is a decline in GDP for two or more consecutive quarters and is characterized by a decline in corporate profits and a rise in unemployment. The trough is the point in the cycle at which the economy is at its weakest. The trough occurs when recession ends and recovery begins. Recovery, or expansion, is a growth in GDP and is characterized by rising profits and reduced unemployment.
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11 years ago
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