BUSINESS CYCLE
- Average cycle is six years
- Recessions last about fourteen months
- The bulk of a cycle is the growth stage
- One cycle is from trough to trough
Expansionary (growth)
- Real output in the economy is increasing and unemployment rate is declining.
Contractionary (recession)
- Real output in the economy is decreasing and unemployment rate is rising.
Peak
- Real GDP is at its highest
Trough
- Real GDP is at its lowest
- Real output in the economy is increasing and unemployment rate is declining.
Contractionary (recession)
- Real output in the economy is decreasing and unemployment rate is rising.
Peak
- Real GDP is at its highest
Trough
- Real GDP is at its lowest
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ReplyDeletei really like the way your blog is laid out, very clean and clear. your notes are very informative and easy to understand! i feel like the highlighted portion of your blog is very bright and is a little hard on the eyes but besides that your notes are reallllly nice! :)
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