A phase of peak in the business cycle would be most closely in association with an economic contraction. Therefore, the option A holds true.
What is the significance of economic contraction?
A period of economic contraction can be referred to or considered as a period in the economy where the growth of the economy is the highest. This growth in the economy is affected due to a number of external factors, such as a peak in the business cycle.
Therefore, the option A holds true and states regarding the significance of economic contraction.
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The question seems to be incomplete. The complete question has been added for better reference.
Which phase of the business cycle would be most closely associated with an economic contraction? A. Peak B. Recession C. Trough D. Recovery. B Recession.
