Aunion has negotiated a contract that states the following: work up to 40 hours per week will be paid at a base rate of $10 per hour. all work in excess of 40 hours, but less than 48 hours will be paid at a rate equal to 1½ times the base rate. any work in excess of 48 hours will be paid at double time. this pay scale agrees with: . the law of supply. b. the law of demand. c. the law of supply and demand. d. ceteris paribus. e. can't tell with the information provided.

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.