The following data give the dates of successive turning points in U.S. economic activity and the corresponding levels of real GDP at the time. Which of the following periods was an expansion?

Name: The following data give the dates of successive turning points in U.S. economic activity and the corresponding levels of real GDP at the time. Which of the following periods was an expansion?
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Question

The following data give the dates of successive turning points in U.S. economic activity and the corresponding levels of real GDP at the time.  Which of the following periods was an expansion?

Quizplus · Accepted Answer

The period from November 1970 through November 1973 was an expansion since real GDP grew from $3,566.5 to $4,151.1.

The Following Data Give the Dates of Successive Turning Points