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GeoPanther
The period of expansion in an aggregate economic activity measured by the real gross domestic product is called economic growth.
The period of contraction in an aggregate economic activity measured by the real gross domestic product is referred to as decline, which practically marks the end of the period of growth in a business cycle.
Sydney3955

for the question -

A period of expansion and contraction of aggregate economic activity measured by real GDP is called a

A) lag.  

B) real GDP.  

C) business cycle.  

D) growth indicator. on usatestprep the answer is C. business cycle

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