Final answer:
The article in question centers on the business cycle—the natural fluctuations of economic growth over time marked by expansions and recessions. The correct answer is option c.
Step-by-step explanation:
The main subject of the article describing several years of growth followed by a long period of contraction in the US economy is the business cycle. The business cycle refers to the natural rise and fall of economic growth that occurs over time, consisting of periods of expansion (growth) and contraction (recession).
This pattern of fluctuating economic performance is a central theme in macroeconomics, as it affects national indicators such as GDP, unemployment, and inflation rates. As noted in articles from the 1960s, economists often discuss the business cycle in the context of Keynesian principles.
Which were historically seen as a means to moderate these fluctuations and achieve stable economic growth and prices.