In the business cycle, the term that best fits the labeled point on the graph of Production output vs Time is; A; Contraction
Business Cycle
From the given graph, we can see that the labeled point occurs just after the peak of the graph. This means the point occurs just after the peak phase of the business cycle.
- Secondly we can see that the point is in a state of decline because of the curve pointing downwards.
- Thirdly,we can also see that it occurs before the trough of the curve which is the lowest point.
Thus, in conclusion the features of the point listed above shows that the point is a contraction point on the curve.
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