a period of macroeconomic expansions followed by one of macroeconomic contraction
a period of economic expansion follwed by one of macroeconomics contraction
a period of economic growth as measured by a rise in real GDP.
the height of an economic expansion, when real GDP stops rising
a period of economic decline marked by falling real GDP.
the lowesr point od an economic contraction, when real GDP stops falling.
a prolonged economic contraction.
a recession that is especially long & servere.
a decline in real GDP combined with a rise in the price level
a set of a key economic variables that economics use to predict future trends in a business cycle.