An economy has historically grown at a rate of 2.25%. Currently, this economy is growing at a rate of 3%, and the unemployment rate is low by historical standards. The economy is expected to continue to grow 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.

expansion stage of the business cycle.

Explanation:

Expansion stage of the business cycle -

The business cycle gives the increases and decreases in the value of production of the goods and services in the economy .

The factor used for the business cycle is the value of Gross domestic product value .

The phase of expansion in the business cycle , is the phase where the value of real gross domestic product increases for two or more consecutive quarters , is referred to as the phase of expansion of the business cycle .

The expansion in the business cycle is due to increase in the employment , equity market and consumers .

It is the indication of a healthy phase of the economy .

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the metropolitan museum of art. source: anton_ivanov / shutterstock.

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national 9/11 memorial and museum.

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statue of liberty.

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