A period of sustained growth of output in the economy is referred to as a(n)
A)expansion
B)contraction
C)peak
D)trough
E)recession

Question

Quizplus · Accepted Answer

An expansion is a period of sustained growth of output in the economy, typically characterized by increasing employment, rising incomes, and increasing production of goods and services. This is the opposite of a contraction or recession, which is a period of declining output and rising unemployment. Peal refers to the peak of an expansion, while trough refers to the bottom of a contraction.

A Period of Sustained Growth of Output in the Economy