2 A time period when the coononry is growing toward full employment is known as an expansion It is depicted in the gough as O Trough C b A tome period characterized by full oringer full employment is known as aprea It is depicted in the graph as A c A time period with two cometolive quirton of diecining output is known in a From High It is depicted in the graph as A Prough B d. A time period when employment and read outpul are at their lowtil levthi is known as a trough it is depicted in the grigh is B