Q. Which of the following is NOT a phase/stage of business cycle of an economy?

[A] Depression

[B] Boom

[C] Recovery

[D] Inflation

Answer: D

Explanation: Economists have pointed out that the business cycle is characterized by four phases or stages in which economies alternate:

  1. Depression
  2. Recovery
  3. Boom
  4. Recession

Source: TMH Ramesh Singh