An expansion is a period in which:
A) output declines.
B) the price level falls.
C) output rises.
D) deflation occurs.

Question

Quizplus · Accepted Answer

An expansion is a period of economic growth in which output increases. This typically leads to an increase in employment and wages, and an overall improvement in the standard of living. The other choices, output declines, the price level falls, and deflation occur during periods of economic contraction.

An Expansion Is a Period in Which