Question

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.

(A) July 1953 1992.2
(B) May 1954 1941.0
(C) Apr. 1957 2182.7
(D) Apr. 1958 2117.4
(E) Apr. 1960 2391.0

The economy experienced an expansion that lasted from:

A. May 1954 to April 1958.
B. July 1953 to May 1954.
C. May 1954 to April 1957.
D. July 1953 to April 1957.

Answer 1

The economy experienced an expansion from May 1954 to April 1957 based on the provided data.

Step-by-step explanation:

The question is asking about the period of economic expansion in the U.S. based on the provided data. In order to determine the correct answer, we need to identify the dates where the economy experienced a turning point from a recession to an expansion. From the given data, the economy experienced a turning point in May 1954 and another in April 1957. Therefore, the correct answer is option C. May 1954 to April 1957.