Business Cycles

3. a decline in real GDP (output) combined with a rise in the price level (inflation).
5. when real GDP stops rising.
6. the lowest point in an economic contraction.
8. an economic decline marked by falling real GDP.
9. investment When the economy is expanding, businesses might expect to increase the goods or services they produce.
11. a deep recession with features such as high unemployment and low economic output.

1. A period of macroeconomic expansion and contraction.
2. set of key economic variables that provide economists with economic data to predict future trends.
4. a steady, long term growth in GDP.
7. a prolonged economic contraction
10. a period of economic growth as measured by a rise in real GDP.