An economy that experiences two or more consecutive quarters of increases in real GDP is experiencing a(n)
A) expansion.
B) peak.
C) recession.
D) depression.
E) inflationary gap.

Question

Quizplus · Accepted Answer

An economy that experiences two or more consecutive quarters of increases in real GDP is experiencing an expansion. This signifies growth in the economy and an increase in production and income.

An Economy That Experiences Two or More Consecutive Quarters of Increases