Choose the statements that correctly describe the business cycle.
recessions are a natural part of the business cycle.
a peak will follow immediately after a recession.
a depression is a prolonged recession.
a decrease in the production of imported goods will have a negative impact on the business cycle.
gdp that has been adjusted for inflation is the basis for measuring the business cycle.

A depression is a prolonged recession.

Recessions are a natural part of the business cycle.

GDP that has been adjusted for inflation is the basis for measuring the business cycle

Explanation:

A depression is a prolonged recession

Whereas a recession could last between 6 to 18 months, depression may last up to a decade or beyond.

Both recession and depression are periods of very low or negative economic growth. As a depression last longer, its effects are devastating. Depression is characterized by high unemployment rates, reduced trade, and bankruptcies.

Recessions are a natural part of the business cycle.

A business cycle is a natural rise and a fall in production output in an economy over time. A business cycle consists of four main phases that occur at irregular intervals.

Recession refers to a period of economic contraction. At a recession, the GDP is static, growing very low rate, or has negative growth. A high level of unemployment characterizes this period. Reduced incomes are realized in the economy.  Like other phases in the business cycle,  a recession occurs naturally.

GDP that has been adjusted for inflation is the basis for measuring the business cycle

A business cycle describes the increase and decreases in economic production in the country over time.  Economists will use GDP to determine if an economy is growing or contracting.

GDP is a measure of the total goods and services produced in an economy in a period.  To get more accumulate results, economists will adjust GDP for inflation and get real GDP.

Real GDP becomes the basis for a rise of fall in production output. Consequently, real GDP is the base for measuring the economic cycle.

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