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Macro Ch 5 Vocab

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cnbunny's version from 2016-03-03 07:05

Section

Question Answer
fluctuations in real GDP around its long-term growth trendbusiness cycles
an unusually severe recessiondepression
the increase in our production of goods & services that occurs over long periods of timeeconomic growth
a period of increasing real GDPexpansion
a period of significant decline in real GDPrecession
memorize