Answer: false
Explanation: The four phases of business cycle are as follows :-
1. Expansion
It's the initial step. There's an increase in jobs, profits, output, and revenues whenever the expansion happens. Usually individuals pay on time for their loans.
2. Peak
The second phase is a peak once, having exceeded the maximum rate of growth, the economic situation hits a nab. Prices have reached their maximum level, and leading indicators have stopped growing.
3. Recession
These would be stagnation phases. Throughout a recession, joblessness is rising, the output is slowing down, revenues are beginning to fall due to a fall in demand, and earnings are stagnating or declining.
4. Depression
Although unemployment is rising and productivity is plummeting, economic development keeps falling.
5. Trough
This period marks the end of the depression, leading an economy into the next step.
6. Recovery
The economy is beginning to turn still at this point. Cheap prices are contributing to such an increase in demand, jobs and development, and borrowers are beginning to expand their lending coffers. This phase signals the end of a period of the business cycle.
