a. It is a firm's pattern of sales during a given year.
b. It is the economy's pattern of fluctuations in economic activity: expansion followed by contraction and then by another expansion.
c. It is the seasonal pattern of fluctuations in consumer spending: increased spending during the holiday season and decreased spending at other times of the year.
d. It refers to the peaks and troughs in the demand for luxury goods in a country.
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Home » Business » What is a business cycle? Group of answer choices a. It is a firm's pattern of sales during a given year. b. It is the economy's pattern of fluctuations in economic activity: expansion followed by contraction and then by another expansion. c.