The phase of the business cycle where the economy is growing slower 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 contraction is when the economy is growing slower than usual, but it has not yet entered a recession or depression. It is also referred to as a slowdown or downturn.

The Phase of the Business Cycle Where the Economy Is