Business cycle quiz: identify the phases at letters A to G

An example figure from the Business Cycle generator.

Business cycle graph with Real GDP up the side, Time along the bottom and no numbers on the axes: a blue wave of real GDP around a dashed, upward-sloping trend line, with letters A to G from left to right, A an arrow to the first rise, B a dot at the first peak, C an arrow to the fall after it, D a dot at the trough, E an arrow to the next rise, F a dot at the second peak and G an arrow to the fall at the end — A business cycle for students to identify, lettered A to G from left to right instead of labeled. Dots mark the two peaks (B and F) and the trough (D), and arrows point to each rise (A and E) and each fall (C and G) of real GDP. The answer key reads A: Expansion, B: Peak, C: Contraction, D: Trough, E: Expansion, F: Peak and G: Contraction.

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Answer key

A: Expansion
B: Peak
C: Contraction
D: Trough
E: Expansion
F: Peak
G: Contraction

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