The economic situation in Lanceberg, an African country, slowly picks up after a severe financial downturn. Over a period of 12 months, businesses expand and employment levels rise. Consumers begin to engage in normal buying behavior. In this scenario, the economy of Lanceberg is currently in the _____.

Question

Quizplus · Accepted Answer

The recovery phase is characterized by economic growth following a recession, where businesses expand, employment rises, and consumer spending increases, which matches the scenario described for Lanceberg.

The Economic Situation in Lanceberg, an African Country, Slowly Picks