The Following Data Give the Dates of Successive Turning Points

question 29

Multiple Choice

The following data give the dates of successive turning points in U.S.economic activity and the corresponding levels of real GDP at the time. $$\begin{array} { c c c } \text { Turning Point } & \text { Date } & \text { Real GDP } \\&&\text { (1996 } \$ \text { billions) }\\\text { (A) } & \text { July } 1953 & 1992.2 \\\text { (B) } & \text { May } 1954 & 1941.0 \\\text { (C) } & \text { Apr. } 1957 & 2182.7 \\\text { (D) } & \text { Apr. } 1958 & 2117.4 \\\text { (E) } & \text { Apr. } 1960 & 2391.0\end{array}$$
Which of the following periods was an expansion?

• A)July 1953 through May 1954
• B)May 1954 through April 1957
• C)July 1953 through April 1957
• D)May 1954 through April 1958

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