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Eco > macro 8 > Flashcards

macro 8 Flashcards

1
Q

boom definition?

A

a period of high economic activity

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2
Q

slump definition?

A

a period of serious economic decline

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3
Q

recovery definition?

A

a period following a slump where there are signs of growth.

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4
Q

recession definition?

A

a period of economic decline in which real GDP has fallen for 2 consecutive quarters

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Eco (8 decks)

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