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. $$\begin{array} { c c c }
\text { Turning Point } & \text { Date } & \begin{array} { c }
\text { Real GDP } \
\text { (1996 \$ billions) }
\end{array} \
\text { (A) } & \text { July } 1953 & 1992.2 \
\text { (B) } & \text { May } 1954 & 1941.0 \
\text { (C) } & \text { Apr. } 1957 & 2182.7 \
\text { (D) } & \text { Apr. } 1958 & 2117.4 \
\text { (E) } & \text { Apr. } 1960 & 2391.0
\end{array}$$ Which of the following periods was an expansion?

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. $$\begin{array} { c c c } 
\text { Turning Point } & \text { Date } & \begin{array} { c } 
\text { Real GDP } \
\text { (1996 \$ billions) }
\end{array} \
\text { (A) } & \text { July } 1953 & 1992.2 \
\text { (B) } & \text { May } 1954 & 1941.0 \
\text { (C) } & \text { Apr. } 1957 & 2182.7 \
\text { (D) } & \text { Apr. } 1958 & 2117.4 \
\text { (E) } & \text { Apr. } 1960 & 2391.0
\end{array}$$ Which of the following periods was an expansion?

Quizplus · Accepted Answer

Real GDP increased from May 1954 to April 1957.

The Following Data Give the Dates of Successive Turning Points