What to know
Identify the rule, formula, or decision criterion before reading the answer choices. CFA Level I distractors often use the right vocabulary with the wrong condition.
Economics
Business Cycle Phases practice questions
Business Cycle Phases is part of CFA Level I Economics. Economics questions focus on microeconomics, macroeconomic policy, international trade, currency markets, and market structure logic. Use this page to review the controlling ideas, then work through 1 question with answer explanations and common traps.
Review the worked explanations before moving into adaptive practice. The app version can mix this topic with due reviews and weak related concepts.
Practice this topicHow to practice
Work each item under time pressure, then compare your reasoning with the step-by-step explanation and key takeaway.
Review signal
Missed questions should become scheduled reviews when the error comes from a concept gap, formula setup, or answer-choice trap.
Economics
Business Cycle Phases
New orders accelerate, inventories-to-sales fall, credit spreads narrow, unemployment declines from high levels, and inflation remains subdued. The economy is most likely in:
View sample