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Business, 14.02.2020 02:48 mwilliams457
The four phases of the business cycle are peak, recession, trough, and expansion. Business cycle lengths vary. Seasonal variations and long run trends complicate the measurement of the business cycle because people are not prepared for the shift in the cycle since they are unexpected. The business cycle affects output and employment in capital goods industries and consumer durable goods industries more severely than in industries producing consumer nondurables because the quantity and quality of purchases of nondurables will decline, but not as much as will purchases of capital goods and consumer durables.
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The four phases of the business cycle are peak, recession, trough, and expansion. Business cycle len...
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