True or False1. It’s poss

True or False1. It’s poss

True or False1. It’s possible that the economic output associated with a nation’s most recent business-cycle through is higher than the economic output associated with an earlier business-cycle peak.2. The point at which an economy turns from contraction to expansion is called a business-cycle depression.3.Unempolyment is typically increasing in the time leading up to a peak.4. The point at which an economy turns from expansion to contraction is called a business-cycle peak.5. Economic growth is typically steady and occurs without many short term fluctuations between expansion and contraction.6.Recessions are related to GDP and therefore are unrelated to business cycles.

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