Questions

ECHO.

Words that sound the same but are spelled different are called homophones. Homophones are a type of homonyms.

Some of the Examples of homophones are ::

One - Won

Son - Sun

Hole - Whole

Loan - Lone

Steal - Steel

Which - Witch

What - Watt

Sea - See

Business cycles are identified as having four distinct phases:

1. Expansion,

2. Peak,

3. Contraction, and

4. Trough.

Expansion is the phase of the business cycle when the economy moves from a trough to a peak. It is a period when the level of business activity surges and gross domestic product (GDP) expands until it reaches a peak. A period of expansion is also known as an economic recovery.

An expansion is characterized by increasing employment, economic growth, and upward pressure on prices.