19. What was the effect of the Supreme Court case McCulloch v. Maryland?
1 answer:
You might be interested in
Answer:
The expansion period id the period of growth in an economy.
Explanation:
The economy fluctuates in two periods:
1 the expansion (growth)
2 the contraction (recession).
An economy has cycles in wich the increase of the GDP denotates and expantionary cycle. After this cycle comes the contractionary cycle in which GDP does not growth at the same rate as the expanion cycle.
Please see image attached to better understand the economic cycles and their differences.
