What do you call an economic contraction (recession) followed by an expansion?

Question

Question

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RRB Group D 14 Sept 2022 Shift 3 Official Paper

Answer 1

The correct answer is Business Cycle.

Key Points

Business cycles are one sort of variation that can be seen in a country's overall economic activity.
It is a pattern of booms that occur roughly at the same time throughout various economic activities, followed by contractions that are equally widespread (recessions).
An illustration of an economic cycle is the business cycle.
Therefore, the correct option is "Business Cycle".

Additional Information

A production function in economics describes the technological relationship between the amounts of physical inputs and the amounts of output of commodities.
According to an economics theory, people construct their expectations for the future based on the past. This process is known as adaptive expectations.