economic cycle Flashcards
1
Q
what is the econ cycle
A
repeated pattern of fluctuations in SR econ growth and hwo this didders from trend growth of an econ
2
Q
repeated pahses of hte busienss cycle can be catefories and
A
share common charactersitics in erms of macroeco indicators
3
Q
what are the 4 stages of econ cycle
A
boom
downturn
recession
recovert
4
Q
what is a boom
A
period of above avergae shirt run econ growth
5
Q
what is a downturn
A
pero dhwere SR eco growth falls above avg to below avg
6
Q
what is a recession
A
2 succesive quarter of a year wehre SR econ growth is negative
7
Q
what is a recovery
A
when short ru econ growth starts to increase after a recession
