The following data give the dates of successive turning points in Canadian economic activity and the corresponding levels of real GDP at the time:
Which of the following periods is most likely to correspond to an expansion?

Question

The following data give the dates of successive turning points in Canadian economic activity and the corresponding levels of real GDP at the time: 
Which of the following periods is most likely to correspond to an expansion?

Quizplus · Accepted Answer

An expansion corresponds to a period of increasing economic activity. Looking at the turning points and corresponding GDP levels, it is clear that the period from October 1982 through April 1990 saw a consistent increase in GDP levels, indicating an expansion. The other periods either saw a decrease in GDP levels or irregular fluctuations.

The Following Data Give the Dates of Successive Turning Points