The phase of the business cycle where the economy is growing faster than usual is called:
A) an economic trough.
B) the long-run trend of GDP.
C) an economic expansion.
D) an economic contraction.
E) an economic peak.

Question

Quizplus · Accepted Answer

An economic expansion is a phase of the business cycle when the economy is growing faster than usual. This is characterized by rising GDP, decreasing unemployment, and increasing prices.

The Phase of the Business Cycle Where the Economy Is