ECONOMIC EXPANSION OCCURS WHENFEWER GOODS AND SERVICES ARE PRODUCE...

79. Economic expansion occurs whenfewer goods and services are produced than consumers demand.→ an economy is growing and people are spending more money.a nation's standard of living drops quickly.employment levels decline over time.prices begin to rise and incomes begin to fall.When people spend more money, it stimulates the production of goods and services which in turn stimulates employment. Accessibility: Keyboard NavigationBloom's: KnowledgeDifficulty: EasyLearning Objective: 01-05 Specify why and how the health of Multiple Choice Question the economy is measured.