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Homework answers / question archive / The pattern of expansions and contractions in a nation's economic system is referred to as: A
The pattern of expansions and contractions in a nation's economic system is referred to as:
A. purchasing power parity
B. aggregate output
C. its balance of trade
D. productivity
E. the business cycle
The answer is E. the business cycle...
The business cycle occurs primarily because of the changes in consumer and investor confidence. When things are going well, there can be a spike up in inflation or perhaps a natural disaster that will shake consumer confidence, and the unemployment level increases, and that sends the economy into a contraction.
