- 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
Which variable lags business cycle?
A. employment level
B. consumer spending
C. capital spending
Explanation: Levels of employment lag the business cycle. The other two are very sensitive to changes in economic activity.
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