8.4. Business Cycle
0.0(0)
Studied by 0 people
Learn
Practice Test
Spaced Repetition
Match
FlashcardsCard Sorting
1/10
Earn XP
Description and Tags
Study Analytics
Name | Mastery | Learn | Test | Matching | Spaced |
|---|
No study sessions yet.
11 Terms
1
New cards
Business cycles
Consists of short-term fluctuations
2
New cards
Expansion
Occurs when there's a positive growth in real GDP
3
New cards
Peak
Represent the cycle's maximum real GDP, and marks the end of expansion. Economy is likely to be experiencing inflations
4
New cards
Contraction
The economy begins to experience falling real GDP or negative growth
5
New cards
Recession
If contraction last six months or more→falling real GDP and growing unemployment resources
6
New cards
Through
End of contraction → new period of expansion also known as recovery
7
New cards
Potential growth
Output represented by the long-term growth trend
8
New cards
9
New cards
10
New cards
11
New cards