Business Cycle

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5 Terms

1
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In what order does the Business Cycle flow in?

Peak, Recession, Trough, Recovery, Expansion

2
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At the Peak of Economy, what happens?

Spending is High, Unemployment is low, and Inflation is high

3
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During the Recession, What happens?

GDP lowers, Unemployment rises, and spending decreases

4
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What happens at the Trough

Typically the lowest point of the Economy

5
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What happens at the Recovery?

Inflation begins to increase again, Spending begins to increase, and unemployment decreases