During expansions:
1. Spending increases: During economic expansions, people tend to have more confidence in the economy, leading to increased spending on goods and services.
2. Standards of living improve: As the economy grows during an expansion, individuals may experience higher incomes, better job opportunities, and overall improvement in their quality of life.
3. GDP increases: Gross Domestic Product (GDP) measures the total value of goods and services produced within a country's borders. During expansions, GDP tends to increase due to higher economic activity.
4. Unemployment decreases: Economic expansions often lead to more job creation and lower unemployment rates as businesses expand and hire more workers.
These points highlight some of the typical outcomes during economic expansions. It's important to note that economic conditions can vary, and there may be exceptions based on specific circumstances or policies in place.
