Business cycles typically consist of which of the following phases?

CA Foundation · Business Economics · PYQS · September 2025
Business cycles typically consist of which of the following phases?
(A) A. Inflation, deflation, stagnation, growth
(B) B. Expansion, peak, contraction, trough
(C) C. Recession, depression, boom, stabilization
(D) D. Peak, decline, recovery, boom

Suggested Answer and Working Notes:

Correct Answer: Option (B)

B. Expansion, peak, contraction, trough

Topics: Business Cycles

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