A period during which GDP exceeds its potential level is best known as a(n)

a. expansion
b. contraction
c. boom
d. recession
e. depression

C

Economics

You might also like to view...

Roughly what percentage of money income was earned by the lowest 20% of income earners in the U.S. in 2010?

A) 0.8% B) 3.8% C) 6.8% D) 9.8%

Economics

Taxes are injections into the circular flow of income and expenditure model

a. True b. False Indicate whether the statement is true or false

Economics