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The right answer for the question that is being asked and shown above is that: "B. expansion." A shortage of a natural resource can lead to which phase in the business cycle: It is the expansion stage of the business cycle.

I believe the answer is: D. Recession

Recession refers to the period when the market experience a general slow down in economic activity. When there is a shortage in natural resources, the producers would have less material to make their products. This would cause the economic activity in the market to slow down

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