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15 July, 07:30

Regarding the economy, what are the terms expand and contract generally used to describe?

a. changes in monetary and fiscal policy

b. rising and falling levels of budget deficits and debt

c. fluctuations in economy

d. changes in tax revenue

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Answers (1)
  1. 15 July, 07:38
    0
    C. Fluctuations in the economy. An economy can be expanding when it is coming out of a trough and proceeding towards a peak in its economic activity and business cycle, or contracting when it is declining from a peak to a trough.
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