Asked by Hudson Nyaki on Jul 18, 2024
Verified
A period of sustained growth in output in an economy is referred to as a(n) _____.
A) expansion
B) contraction
C) peak
D) trough
E) recession
Sustained Growth
A consistent increase in the size of an economy over a period, typically characterized by steady growth rates.
Expansion
A phase of the economic cycle where an economy experiences growth, characterized by increased output, employment, and spending.
- Recognize the phases and characteristics of economic expansions and contractions.
Verified Answer
RC
Rebekah CurryJul 21, 2024
Final Answer :
A
Explanation :
A period of sustained growth in output is referred to as an expansion. This is when an economy is growing, creating jobs, and producing more goods and services.
Learning Objectives
- Recognize the phases and characteristics of economic expansions and contractions.