Business Cycle
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What is a business cycle?
A business cycle is the recurring pattern of expansion and contraction in economic activity, measured by GDP, employment, and industrial output, typically lasting several years.
What is the average duration of a typical business cycle?
Typically ranges from 3 to 5 years on average.
What are the four phases of a business cycle?
The four phases are expansion (recovery), peak, contraction (recession), and trough, each representing distinct levels of economic activity.
What does the term 'trough-to-trough' measurement refer to in business cycles?
Measuring one full cycle from one trough to the next.
What is the 'peak' phase of a business cycle?
The peak is the highest point of economic activity in a business cycle, where GDP, employment, and production are at their maximum before a downturn begins.
Which government body in India monitors business cycle indicators?
Ministry of Statistics and Programme Implementation (MOSPI).
What is the 'trough' phase of a business cycle?
The trough is the lowest point of economic activity in a business cycle, marking the end of contraction and the beginning of the next expansion phase.
What is the name of the phase where economic activity stops declining and starts recovering?
Recovery or trough phase marks the turnaround point.
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