Which description most closely defines potential gdp? the level of output an economy can produce for each price level. a long-term growth goal for the economy. a possible level of output projected for the near future. the level of output an economy will consume for each price level. the level of output an economy can produce using all its productive resourc

The answer should be b.

The business cycle is the periodic but irregular up-and-down movement in economic activity, measured by fluctuations in real gross domestic product (gdp) and other macroeconomic variables. a business cycle is typically characterized by four phases—recession, recovery, growth, and decline—that repeat themselves over time. economists note, however, that complete business cycles vary in length. the duration of business cycles can be anywhere from about two to twelve years, with most cycles averaging six years in length. some business analysts use the business cycle model and terminology to study and explain fluctuations in business inventory and other individual elements of corporate operations. but the term "business cycle" is still primarily associated with larger (industry-wide, regional, national, or even international) business trends.

Ithink the answers would be a and c and e!