Answer on Macroeconomics Question for kuna
Contractionary Phase is a period in which real GDP is declining, that's why it is associated with declining inflation rates and increasing unemployment rates.
Expansionary Phase is a period in which real GDP is growing, that's why it is associated with increasing inflation rates and declining unemployment rates.
Need a fast expert's response?Submit order
and get a quick answer at the best price
for any assignment or question with DETAILED EXPLANATIONS!