Economics - Economic cycle (GDP)
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Last updated 4:54 AM on 5/28/24
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4 Terms
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Boom
peak of the cycle where GDP is growing at its fastest (Because the economy is performing well)
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Downturn
GDP grows, but more slowly. (Always followed by a boom)
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Recession
period of temporary economic decline — trade and industrial activity are reduced.
fall in GDP in two succesive quarters
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Recovery
Where GDP starts to rise again — economic activity starts to increase again.
Note 
Flashcards (20)