The trough of a contraction is
A) the point in time at which the level of national business activity reaches a minimum before expanding again.
B) the point in time at which the level of national business activity reaches a maximum before contracting again.
C) the rate at which the level of business activity is declining.
D) an external shock that causes economic activity to decline.
Answer: A) the point in time at which the level of national business activity reaches a minimum before expanding again.
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