If the Rate of Change in Output Is Negative

Multiple Choice

If the rate of change in output is negative

A) then the economy is in the expansionary phase of the business cycle, regardless of the overall level of output.
B) but the level of output is low, then the economy is entering the expansionary phase of the business cycle.
C) but the level of output is high, then the economy is still in the expansionary phase of the business cycle.
D) then the economy is in the contractionary phase of the business cycle, regardless of the overall level of output.