Business economics

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Last updated 2:26 PM on 7/7/26
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8 Terms

1
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Expansion and peak

When the economy health increases over time to its best.

2
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Recession and trough

When the ecnonomy health decreases to its lowest point.

3
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How many stages of the business cycle is there?

4 (recession and depression not included)

4
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GDP

All of the goods and services produced by the government. Not including intermediate goods and market activities.

5
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Real GDP per Capita

Measures the average economic output per person, adjusted for inflation.

6
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Unemployment Rate

The percentage of people jobless and looking for a job.

7
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Natural Rate of unemployment

3-6%

8
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