Practice Quiz

CLEP Social Sciences

Category - Social Sciences

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A country’s national economy has shown an 8% growth over the past 4 years. Before that, the economy moved from recession to stagnation over a period of 10 years. What is this economic fluctuation referred to?
  1. Business cycle
  2. Economic forecast
  3. Growth cycle
  4. Stagnation cycle
Explanation
Answer - A - This economic fluctuation is referred to as a business cycle.

Key Takeaway: A business cycle charts the overall fluctuation in economic and production activities in a society. These activities experience growth and recession with periods of stagnation and are usually measured using a number of indices such as the real gross domestic product (GDP).
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