On a business cycle diagram, the trough represents: a. An expansionary phase b. A contractionary phase c. The lowest point of economic activity d. The highest point of growth
On a business cycle diagram, the trough represents: a. An expansionary phase b. A contractionary phase c. The lowest point of economic activity d. The highest point of growth
Chapter12: Business Cycles And Unemployment
Section: Chapter Questions
Problem 2SQ
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Question
On a business cycle diagram, the trough represents:
a.
An expansionary phase
b.
A contractionary phase
c.
The lowest point of economic activity
d.
The highest point of growth
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