One phase of business cylce grows out of the preceding phase.
expansion phase
The turning points of the cycle are called the peak, which is at the end of the expansion phase, and the trough, which is at the end of the contraction phase.
false
depression
Recession phase
One phase of business cylce grows out of the preceding phase.
in recession
expansion
The GDP will grow.
expansion phase
The turning points of the cycle are called the peak, which is at the end of the expansion phase, and the trough, which is at the end of the contraction phase.
false
depression
recession
recession
expansion