Which of the following is true of economic expansion?
A)There is a decline in production,employment,and income.
B)The standard of living rises because more people are employed and have money to spend.
C)There is a decline in spending.
D)Consumer spending is low and business output is sharply reduced.
E)The prices stagnate during this period.

Question

Quizplus · Accepted Answer

During an economic expansion, the standard of living typically rises because more people are employed and have money to spend, which leads to an increase in overall economic activity and prosperity.

Which of the Following Is True of Economic Expansion