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7 Cards in this Set
- Front
- Back
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business cycle
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changes in real gdp
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recession
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declining real gdp for 2 consecutive quarters
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expansion
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a period of economic growth
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peak
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the point at which real gdp is highest
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contraction
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a period of economic decline
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depression
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declining real gdp for 8 consecutive quarters
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trough
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the lowest point on a business cycle
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