Both Phoebe and Connor are trying to maximize their lifetime income. Each has a different plan on how to do this best: Phoebe claims that she wants a career with no college or trade school requirements because she could save the money for retirement rather than spending it on education. She estimates her average yearly salary at $35,000 per year with no post-secondary education requirements. Connor claims post-secondary education will help him get a career with a higher salary and more benefits that he can use in retirement, so the education costs will more than pay for themselves. Connor estimates paying $80,000 for his post-secondary education and an average yearly salary of $60,000 per year after he earns his college degree. Which statement about their claims is correct?

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.

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