When the economy is at its highest level of expansion, it is said to have reached its ____.

When the economy is at its highest level of expansion, it is referred to as having reached its peak. The peak represents the point in the business cycle where economic activity is at its maximum, characterized by high levels of employment, consumer confidence, and production. During this stage, indicators such as GDP growth rate are at their most favorable before transitioning into a phase of contraction or decline. Understanding this concept is essential for recognizing the cyclical nature of economies, allowing businesses and policymakers to make informed decisions about investments, spending, and economic policies.