: What are the stages of a business cycle, in order? expansion, trough, contraction, peak contraction, recession, expansion, boom expansion, peak, contraction, trough Otrough, expansion, contraction, peak Which statement best describes unemployment in the business cycle? It rises in peaks and falls in troughs. It rises in booms and falls in recessions. It rises in expansions and falls in contractions. It rises in contractions and falls in expansions.