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What are the characteristics of recession phase of business cycle?
Updated: 8/22/2023
Wiki User
∙ 15y agoBest Answer
some characteristics are:
1. Lower industrial production
2. Lower per capita consumption
3. high unemployment
4. high inflation
5. Declining GDP
6. Declining profits & revenues
etc...
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∙ 15y agoThis answer is:
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Which phase in the business cycle occurs when the economy shrinks due to a decline in production of goods and services?
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Which phase in the business cycle occurs when the economy shrinks due to a decline in production of goods and services?
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