Phases of the Business Cycle
Which 2 statements are true of the business cycle? Use the image if it helps. You MUST
choose 2 answers. DF
(5 Points)
A.During a period of expansion. GDP is decreasing.
B.Following a peak there will be a period of expansion
C.After a recession there is a period of economic growth.
D.During a recession consumer spending and GDP are down.