Economic contraction is said to have occurred when:
A)GDP increases.
B)spending declines.
C)jobs increase.
D)inflation decreases.
E)unemployment falls.

Name: Economic contraction is said to have occurred when: A)GDP increases. B)spending declines. C)jobs increase. D)inflation decreases. E)unemployment falls.
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Question

Quizplus · Accepted Answer

Economic contraction is characterized by a decline in spending among consumers and businesses, which leads to a decrease in economic activity.

Economic Contraction Is Said to Have Occurred When