"what word describes the phase of a business cycle that occurs after a trough and before a peak? "

expansion

Explanation:

Expansion can be referred to as the stage of a business cycle where there is a growth in GDP for most of the year. it can be both in 2nd and 3rd quarters of the year, moving from a rough patch to its peak or growth

when a country is out of recession for example, as the GDP rises and gets to it's peak, what follows after that is  availability of employment, Market equity, and boost the consumer's ability and self confidence.

Expansion can be called the recovery of an economy were money becomes available to borrow., business of consumers can rise again Growth per capital grows, and the market performs well.

Expansion can only arise ones a phase of business cycle declines

answerobservation;