Wednesday, October 16, 2019

⭐UNIT 2! Business Cycle

Business Cycle: A fluctuation in economic activity that an economy experiences. period of time.

      --Four Phases in a Business Cycle--
                 *1st Phase- Expansion- a period of economic upturn when OUTPUT &  EMPLOYMENT  RISES. (GOOD)
                *2nd Phase Peak- HIGHEST point of real GDP, Near or at full employment.
                *3rd phase  Contraction/Recession- real GDP DECLINE for at least 6 months
                *4th Phase  Trough- the LOWEST point of real GDP least amount of spending and HIGHEST unemployment.
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1 comment:

  1. Stephanie.MOctober 17, 2019 at 11:21 PM

    can you explain to me more in depth of the phases? im not sure i understand. I also enjoy your blogs!

    ReplyDelete

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