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Which of the following best describes the expansion phase of the business cycle?

K. Unemployment begins to diminish; income, output, and consumption rise; and prices gradually start to increase. L. Prices creep down as unused capacity develops. M. As unemployment begins to increase prices rise proportionately. N. Prices remain stable throughout the expansion phase.

Asked By: andreaje21 - 3/8/2008
Best Answer - Chosen by Asker
None of the above. Economic growth is a function of population and participation. Every human being in a community can deliver 2.5 megajoules of work per day and economic growth can result only from an increase in gross contribution from the community as a result of participation which is in turn, dependant on two... More
Answered By: Ten-Eleven - 3/9/2008
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