- The information for the graph was sourced from the United States Bureau of Economic Analysis.

- The economy is currently in the expansion phase. I came to this conclusion as the GDP as been steadily increasing for the past 16 quarters. The fact that our Gross Domestic Product (which is the total value of all goods and services produced with the country) has been increasing means our level of economic output is increasing at a positive rate of growth. Therefore, according to the definition the economy is in the expansion period. Our gross domestic product however, is not increasing at rate that is high enough or long enough for it mean we are in an economic boom.