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Economics Business Cycle

what is a business cycle?
what is a business cycle?
Fluctuations in the overall rate of national economic activity with alternating periods of expansion and contraction; these vary in duration and degrees of severity; usually
measured by real gross domestic product (GDP)
Peak
Peak
The height of an economic expansion, when real GDP stops rising
Contraction
Contraction
A period of economic decline
marked by falling real GDP
Trough
Trough
The lowest point in an economic contraction,when real GDP stops falling
Recovery Period
Recovery Period
Period in which a business cycle
following a recession,during which the
real GDP rises
Expansion
Expansion
A period of economic growth as measured by a rise in real GDP

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