Categories
Economics Macroeconomics

The term business cycle refers to the

QUESTION

The term business cycle refers to the

  1. short-term ups and downs in the price level.
  2. long-term trends in the price level.
  3. short-term ups and downs in the level of economic activity.
  4. long-term trends in the level of economic activity.

ANSWER

The correct option is 3. short-term ups and downs in the level of economic activity.

By Muhammed Cetin

A full-stack web developer with 15 years of experience and an Industrial Engineering student at Middle East Technical University.