Which of the following statements is true? a. The four phases of the business cycle, in order,
Question:
Which of the following statements is true?
a. The four phases of the business cycle, in order, are: peak, expansion, trough, recession.
b. When unemployment is rising then real GDP is rising.
c. The economic problem typically associated with an expansion is rising unemployment.
d. Full employment exists in an economy when the unemployment rate equals the sum of seasonal, frictional, and structural unemployment rates.
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