Question
Which economic concept describes a period of rapid economic growth and profits followed immediately by a period of decline in economic growth and profits?(1 point)
Responses
consumer demand
consumer demand
the free enterprise system
the free enterprise system
a boom-and-bust cycle
a boom-and-bust cycle
a recession
Responses
consumer demand
consumer demand
the free enterprise system
the free enterprise system
a boom-and-bust cycle
a boom-and-bust cycle
a recession
Answers
GPT-4o mini
The economic concept that describes a period of rapid economic growth and profits followed immediately by a period of decline in economic growth and profits is **a boom-and-bust cycle**.