3/17/2018

business cycles...

The terms business cycle or economic cycle refers to changes in economic activity within a country or countries. The cycle in this sense is defined in terms of economic output, especially the country's gross domestic product (GDP) (the market value of all goods and services produced within the country during a year). The image below shows how different named phases of the cycle correspond to increases or decreases in GDP, including Expansion, Recession, and Recovery.
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