An expansion occurs when the level of real GDP is
A) increasing.
B) decreasing.
C) at a cyclical peak.
D) at a cyclical trough.

Name: An expansion occurs when the level of real GDP is A) increasing. B) decreasing. C) at a cyclical peak. D) at a cyclical trough.
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Question

Quizplus · Accepted Answer

An expansion in the economy is characterized by an increase in the level of real Gross Domestic Product (GDP), indicating a period of economic growth.

An Expansion Occurs When the Level of Real GDP Is