Economics - Economic cycle (GDP)
0.0(0)
Studied by 0 people
Call Kai
Learn
Practice Test
Spaced Repetition
Match
Flashcards
Knowt PlayCard Sorting
1/3
Earn XP
Description and Tags
Last updated 4:54 AM on 5/28/24
Name | Mastery | Learn | Test | Matching | Spaced | Call with Kai |
|---|
No analytics yet
Send a link to your students to track their progress
4 Terms
1
New cards
Boom
peak of the cycle where GDP is growing at its fastest (Because the economy is performing well)
2
New cards
Downturn
GDP grows, but more slowly. (Always followed by a boom)
3
New cards
Recession
period of temporary economic decline — trade and industrial activity are reduced.
fall in GDP in two succesive quarters
4
New cards
Recovery
Where GDP starts to rise again — economic activity starts to increase again.
