Consider the following figure to answer the following questions: 
-During which period was the economy in an expansion?
Definitions:
Restrictive Short-Term Financial Policy
A financial strategy that prioritizes maintaining a lower level of current assets relative to liabilities, often to maximize profitability at the expense of liquidity.
Marketable Securities
Financial instruments that can be quickly converted into cash, such as stocks, bonds, or treasury bills, with minimal loss of value.
Short-Term Debt
A financial obligation that is due to be repaid within a year or less.
Cash Cycle
The cash cycle, also known as the cash conversion cycle, measures the time it takes for a company to convert its investments in inventory and other resources into cash flows from sales.
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