- CFA Exams
- CFA Level I Exam
- Topic 2. Economics
- Learning Module 2. Understanding Business Cycles
- Subject 3. Economic Indicators over the Business Cycle
CFA Practice Question
Consumer spending changes through the economic cycle. The most cyclical part is ______. A. durable goods
B. non-durable goods
C. services
Correct Answer: A
Spending on consumer durables is the most cyclical consumer activity, followed by service and consumer staples, which are less affected by the cyclicality of the economy.
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