Answered

Looking for answers? Westonci.ca is your go-to Q&A platform, offering quick, trustworthy responses from a community of experts. Join our platform to get reliable answers to your questions from a knowledgeable community of experts. Our platform provides a seamless experience for finding reliable answers from a network of experienced professionals.

The phase of a business cycle after a recession in which consumer confidence is shaken and consumers reduce spending is called

Sagot :

eooyibo123

Answer:

Depression

Explanation:

A business cycle is defined as the period that occurs between a boom and a contraction in an economy. A boom is rapid economic growth while a contraction is a period of slow economic growth.

There are 6 stages of business cycle: expansion, peak, recession, depression, trough, and recovery.

A recession is the early stage of a contraction in which demand for products start to decline and prices fall.

After a recession is depression. In this stage economic growth declines further, unemployment increases, consumer confidence is shaken and consumers reduce spending

We hope our answers were useful. Return anytime for more information and answers to any other questions you have. Thanks for using our service. We're always here to provide accurate and up-to-date answers to all your queries. Thank you for visiting Westonci.ca, your go-to source for reliable answers. Come back soon for more expert insights.