Peak and valley are the two distinct phases of a business cycle. true or false

False.

Explanation:

The business cycle is also known as the Economic or the trade cycle. The business cycle is the upward or the downward movement of the GDP around its growth in the long term. A business cycle usually has four distinct phases known as - expansion, peak, contraction and trough. The growth rate of real GDP is the instrumental tool for measuring the business cycles.

False. Recession and expansion are the two distinct phases of a business cycle.