The period of time in which the level of output moves from a trough to a peak is called a

Question

Quizplus · Accepted Answer

A recovery is the period of time in which the level of output (GDP) moves from a trough (low point) to a peak (high point). This is the opposite of a contraction, which is a period of time in which the level of output is decreasing, and a depression, which is an extended period of contraction. A plateau is a period of time in which the level of output remains stable, neither increasing nor decreasing. Therefore, the best choice is A) Recovery.

The Period of Time in Which the Level of Output