Which best describes peak phase of economic growth? a. The point by which business cycle begins...

Which best describes peak phase of economic growth? a. The point by which business cycle begins to decline b. The point by which business cycle begins to crowd out c. The point by which business cycle begins to perform well d. The point by which business cycle begins to evolve

Solutions

Expert Solution

Ans: The point by which business cycle begins to decline

Explanation:

A peak is the highest point of the business cycle. This is the upper turning point of a business cycle and the point at which expansion turns into contraction. In peak phase, economic factors such as employment, production, sales, profit, are at its highest point. There is little chance of increase in these variables further. This is the point after which business cycle begins to decline.

Thus, option[a] is correct answer.

Rahul Sunny answered 1 year ago

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