An economic expansion refers to an increase in the volume of goods and services produced.
During an economic expansion,GDP rises and unemployment falls.

Question

Quizplus · Accepted Answer

During an economic expansion, there is an increase in economic activity which leads to an increase in the volume of goods and services produced. This leads to an increase in GDP and a decrease in unemployment as firms hire more workers to meet the increasing demand for goods and services. Therefore, the statement is true.

An Economic Expansion Refers to an Increase in the Volume