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Basic Question 0 of 7
The contraction phase of the business cycle is characterized by (a) ______ (drop, constant, rise) (in) sales for most businesses, ______ (falling, constant, rising) real GDP, and ______ (decreasing, constant, increasing) unemployment.
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Martin Rockenfeldt
Learning Outcome Statements
describe the business cycle and its phases
CFA® 2026 Level I Curriculum, Volume 1, Module 2.