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Economic Cycle (2.Recession (More businesses fail, Inflation decreases and…
Economic Cycle
2.Recession
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Recession is a period in which economic growth falls below average. It is also referred to as a bust
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1.Boom
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More revenue is generated for the government due to high employment rates and increased consumer spending
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3.Slump
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A slump occurs if a resession lasts for a long period of time. Economic growth is low and may even become negative.
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