- CFA Exams
- CFA Level I Exam
- Study Session 4. Economics (1)
- Reading 15. Understanding Business Cycles
- Subject 1. The Business Cycle and its Phases
CFA Practice Question
The business cycle is the ______.
A. term used to describe fluctuations in output around its long-term trend
B. length of time required by a firm to buy inputs and produce and sell output
C. pattern of increases and decreases in the money supply
Explanation: Business cycles are a fundamental feature of market economies, but their amplitude and length varies considerably.
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