In a hypothetical economy, current inflation-adjusted economic output is rising and is expected to continue rising in the coming months. This economy is currently in the _____.(1 point)

Question

Responses

trough stage of the business cycle
trough stage of the business cycle

expansion stage of the business cycle
expansion stage of the business cycle

contraction stage of the business cycle
contraction stage of the business cycle

peak stage of the business cycle

Answer 1

In a hypothetical economy where current inflation-adjusted economic output is rising and is expected to continue rising in the coming months, this economy is currently in the expansion stage of the business cycle.