- CFA Exams
- CFA Level I Exam
- Topic 2. Economics
- Learning Module 2. Understanding Business Cycles
- Subject 1. Overview of the Business Cycle
CFA Practice Question
The contraction phase of the business cycle is characterized by (a) ______ (drop, constant, rise) (in) sales for most businesses, ______ (falling, constant, rising) real GDP, and ______ (decreasing, constant, increasing) unemployment.
Correct Answer: drop, falling, increasing
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