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Homework answers / question archive / An economy has historically grown at a rate of 1

An economy has historically grown at a rate of 1

Business

An economy has historically grown at a rate of 1.25%. Economic activity decreased every quarter over the past year, but the decline stopped this quarter. The economy is expected to grow at a rate of 1.4% in the near future, and the monetary authorities are concerned that inflation may increase.

This economy is probably in the _____ stage of the business cycle.

a. expansion

b. recovery

c. contraction

d. trough

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