In which industry do the most substantial variations in output and employment occur during a business...
In which industry do the most substantial variations in output and employment occur during a business cycle? Select one: a. Automobiles. b. Food. c. Medical services. d. Furniture.
Homework Answers
Option A.
- A business cycle is said to occur when there is a cycle formation due to the recurrent Increase, Followed by the decrease in economic activity and vice versa.
- During a business cycle, durable goods undergo most substantial variations in output and employment during a business cycle while non durable goods that includes necessities and services are least affected.
- As automobiles are durable goods they are most affected during a business cycle.
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