Questlon 5 of 10 Which statement best describes the idea of the law of supply? A . The supply of a product decreases as its price increases B. The demand for a product decreases as its supply decreases. C. The demand for a product increases as its price increases. D. The supply of a product increases as its price increases SUBMIT

The business cycle is the periodic but irregular up-and-down movement in economic activity, measured by fluctuations in real gross domestic product (gdp) and other macroeconomic variables. a business cycle is typically characterized by four phases—recession, recovery, growth, and decline—that repeat themselves over time. economists note, however, that complete business cycles vary in length. the duration of business cycles can be anywhere from about two to twelve years, with most cycles averaging six years in length. some business analysts use the business cycle model and terminology to study and explain fluctuations in business inventory and other individual elements of corporate operations. but the term "business cycle" is still primarily associated with larger (industry-wide, regional, national, or even international) business trends.

There are three key entities in thefederal reserve system: the  board  of governors, the  federal reserve banks(reserve banks), and the  federal  open market committee (fomc). while the  federal reserve  has frequent communication with executive branch and congressional officials, its decisions are made independently.