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Which one of the following is not correct about business cycle?
- a)They occur simultaneously in all industries and sectors
- b)They affect not only output level but also other related variables
- c)They are international in character
- d)They have uniform causes
Correct answer is option 'D'. Can you explain this answer?
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Most Upvoted Answer
Which one of the following is not correct about business cycle?a)They ...
Business Cycle
Business cycle refers to the fluctuation in economic activity that an economy experiences over a period of time. It is a recurring phenomenon that consists of four phases - expansion, peak, contraction, and trough. In this question, we need to identify the incorrect statement about business cycles.
Incorrect Statement
a) They occur simultaneously in all industries and sectors
This statement is incorrect because business cycles do not occur simultaneously in all industries and sectors. Instead, different industries and sectors may experience different phases of the business cycle at different times. For example, the construction industry may experience an expansion while the manufacturing industry may be in a contraction phase.
Correct Statements
b) They affect not only output level but also other related variables
This statement is correct because business cycles do not only affect the output level of an economy but also other related variables such as employment, inflation, interest rates, and consumer spending. For example, during an expansion phase, employment and consumer spending tend to increase while inflation and interest rates may also rise.
c) They are international in character
This statement is also correct because business cycles are not confined to a particular country or region. Instead, they tend to be international in character and can be influenced by global economic factors such as trade, investment, and financial flows.
Conclusion
In conclusion, the incorrect statement about business cycles is that they occur simultaneously in all industries and sectors. Instead, different industries and sectors may experience different phases of the business cycle at different times.
Business cycle refers to the fluctuation in economic activity that an economy experiences over a period of time. It is a recurring phenomenon that consists of four phases - expansion, peak, contraction, and trough. In this question, we need to identify the incorrect statement about business cycles.
Incorrect Statement
a) They occur simultaneously in all industries and sectors
This statement is incorrect because business cycles do not occur simultaneously in all industries and sectors. Instead, different industries and sectors may experience different phases of the business cycle at different times. For example, the construction industry may experience an expansion while the manufacturing industry may be in a contraction phase.
Correct Statements
b) They affect not only output level but also other related variables
This statement is correct because business cycles do not only affect the output level of an economy but also other related variables such as employment, inflation, interest rates, and consumer spending. For example, during an expansion phase, employment and consumer spending tend to increase while inflation and interest rates may also rise.
c) They are international in character
This statement is also correct because business cycles are not confined to a particular country or region. Instead, they tend to be international in character and can be influenced by global economic factors such as trade, investment, and financial flows.
Conclusion
In conclusion, the incorrect statement about business cycles is that they occur simultaneously in all industries and sectors. Instead, different industries and sectors may experience different phases of the business cycle at different times.
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Community Answer
Which one of the following is not correct about business cycle?a)They ...
Crt answer is option 'A'.Becoz business cycle does not exist simultaneously in all industries,occurs and changes from one to another.
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Which one of the following is not correct about business cycle?a)They occur simultaneously in all industries and sectorsb)They affect not only output level but also other related variablesc)They are international in characterd)They have uniform causesCorrect answer is option 'D'. Can you explain this answer?
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