The peak of a business cycle is generally accompanied by 'the highest rate of increase in the price level over the cycle'. Thus, the correct answer option is (b).
A business cycle refers to the repetitive economic changes that take place over time in a country. The business cycle shows the inverse and decrease in the economy over a period. The business cycle can be influenced by the factors such as interest rates, trade, investment, and production costs. Primarily, financial professionals and enterprises measure the business cycle by the influences of trade and production costs and fluctuations in the gross domestic product (GDP).
The peak is the second phase among the four phases of the business cycle. The peak phase is the point right before core economic indicators begin to fall. At the peak of the business cycle, the highest rates of increase in the price level are noticed and businesses can no longer satisfy the demands of consumers.
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