Question
A period of economic expansion ends with a business cycle trough.
Solution
VerifiedAnswered 6 months ago
Answered 6 months ago
Step 1
1 of 2Business cycle: refers to the evolution of a nation's economy through different stages in its development. The stages are:
- Expansion: in this stage, the economy is being developed, and the performance is expected to improve and grow.
- Peak: once the economy faced an expansion, it reaches a peak (highest level) showing some rates that would need to be corrected to be stable.
- Contraction: after a peak, the economy will decline in most of its main indicators, such as the inflation rate and GDP.
- Through: as its name, it shows the end of the correction in the economy, where the society would expect a possible new expansion.
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