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Eco 001 17-29 > Chapter 22 > Flashcards

Chapter 22 Flashcards

1
Q

Boom

A

A period of time during which real GDP is above potential GDP

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2
Q

Slump

A

A period during which real GDP is below potential and/or the employment rate is below normal

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Eco 001 17-29 (10 decks)

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