When national output rises,the economy is said to be in
A)an expansion.
B)a deflation.
C)an inflation.
D)a recession.

Question

Quizplus · Accepted Answer

When national output (i.e. Gross Domestic Product or GDP) increases, it means that the economy is producing more goods and services, resulting in an increase in economic activity. This is known as an expansion or a growth phase of the business cycle. This can lead to job creation, income growth, and higher standards of living for individuals.

When National Output Rises,the Economy Is Said to Be in