An economy produces only fun and food. The table shows the prices and the quantities of fun and food produced in 2020 and 2021. The base year is 2020. If potential GDP in 2020 was $270 and it grew by 1 percent in 2021, in which phase of the business cycle is the economy? Question content area bottom left Part 1 The economy is in _______ because _______ between 2020 and 2021. A. an expansion; real GDP is increasing B. an expansion; real GDP is increasing at a faster rate than potential GDP is increasing C. an expansion; potential GDP is increasing D. a recession; potential GDP is increasing at a slower rate than real GDP is increasing E. a recession; real GDP is less than potential GDP . . . Question content area right Part 1 In 2020 Item Quantity Price Fun 40 $2 Food 60 $3 In 2021 Item Quantity Price Fun 35 $3 Food 65 $2