Question

1. Concerning the four phases in the economic cycle, above B shows an economic what?

-trough

-peak

-recession

2. The point of a fluctuation at which an economy turns from a recession to an expansion is called a ________.

-depression

-trough

-disinflation

3. Concerning the four phases in the economic cycle, above C shows an economic what?

-expansion

-recession

-peak

Answer 1

1. Considering the four phases in the economic cycle, B i.e second phase shows the peak at which the employment level reach at its highest level. Hence, option(B) is correct.

2. The point of a fluctuation at which an economy turns from a recession to an expansion is called a trough. Hence, option(B) is correct.

3. Considering the four phases in the economics cycle, C i.e third phase shows the recession ,this is the phase of turning from prosperity to depression. Hence, option(B) is correct.