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Business cycles are A. alternating periods of smoothly expanding and contracting economic​ activity, which are usually illustrated using movements in nominal GDP. B. alternating periods in which real GDP increases in an expansion to a business cycle trough and then decreases in a recession to a business cycle peak. C. all roughly the same in duration and severity. D. alternating periods of expanding and contracting economic​ activity, which are usually illustrated using movements in real GDP.

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Answer:

D. alternating periods of expansion and contraction of economic activity, usually illustrated with movements of real GDP.

Explanation:

The business cycle concerns cyclical macroeconomic fluctuations resulting in periods of expansion and contraction of production, ie periods when the market is business-prone and periods less prone, ie in crisis. The cycle and business is measured through real GDP.

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