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      Question

      Which of the following is not true about the

      ‘expansion’ phase of the economy?
      A Increase in national output Correct Answer Incorrect Answer
      B Increase in consumer spending Correct Answer Incorrect Answer
      C Excess production capacity of industries Correct Answer Incorrect Answer
      D Expansion of bank credit Correct Answer Incorrect Answer
      E All of the above Correct Answer Incorrect Answer

      Solution

      Excess production capacity is a situation where a firm is producing at a lower scale of output than it has been designed for. 

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