Answer :
False. Recession and expansion are the two distinct phases of a business cycle.
Explanation:
Answer:
False.
Explanation:
- The business cycle is also known as the Economic or the trade cycle.
- The business cycle is the upward or the downward movement of the GDP around its growth in the long term.
- A business cycle usually has four distinct phases known as - expansion, peak, contraction and trough.
- The growth rate of real GDP is the instrumental tool for measuring the business cycles.