If during several months the economy is simultaneously increasing its levels of output and employment, then the economy is in a(n):

Question

Quizplus · Accepted Answer

An economy that is increasing its levels of output and employment for several months is undergoing an expansion, which is a period of economic growth. A depression is characterized by a prolonged period of economic downturn, while a recession is a decline in economic activity lasting several months. The option D does not accurately describe the current state of the economy.

If During Several Months the Economy Is Simultaneously Increasing Its