New home construction is at an all-time high, due to increased demand the cost of new homes has gone up 15%, In which phase of the business cycle is the economy?

Peak

Explanation:

The business cycle refers to the routine growth and decline of economic activities in a country. Naturally, an economy experiences periods with high economic activities and seasons with subdued growth.

The peak is the business cycle when the economy experiences high growth. At the peak cycle, businesses experience high sales volumes, the rate of unemployment is low, and prices are high. The level of economic growth is measured through GDP. At the peak, the GDP value is high.

a. $48.75

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