In the spring of 2002 we were in the _____ phase of the business cycle.

Name: In the spring of 2002 we were in the _____ phase of the business cycle.
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Question

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The spring of 2002 followed the 2001 recession, which officially ended in November of that year. Therefore, in the spring of 2002, the economy was in the recovery phase of the business cycle, characterized by increasing economic growth, decreasing unemployment, and improving consumer confidence.

In the Spring of 2002 We Were in the _____