A declining GDP and a rising unemployment rate are most likely indicators
that an economy is in which phase of the business cycle?
A. Contraction
B. Expansion
c. Peak
D. Trough

Workers might also face layoffs at some point in the contraction segment of the business cycle as demand for items and offerings begins to lower. Thus, Option A is the correct statement.

What is Contraction?

Contraction, in economics, refers to a segment of the commercial enterprise cycle wherein the financial system as a whole is in decline. A contraction commonly takes place after the commercial enterprise cycle peaks, however earlier than it turns into a trough.

Thus, Option A is the correct statement.

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A declining GDP and a rising unemployment rate are most likely indicators that an economy is in which phase of the business cycle? A. Contraction B. Expansion c. Peak D. Trough

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What is Contraction?

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A declining GDP and a rising unemployment rate are most likely indicators
that an economy is in which phase of the business cycle?
A. Contraction
B. Expansion
c. Peak
D. Trough