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Trendline, Expansion, Time, Real GDP - Coggle Diagram
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Expansion
In an expansion there is more employment, income, output, wages, profits paying their debts on time, the money supply is high, and investment is high. It is represented with upward curve
Peak
Maximum Growth is reached and economic indicators can't go further. It is the highest point displayed before economic reversal happens and goes downward.
Contraction
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demand for goods and services starts declining rapidlyProducers do not notice the decrease in demand instantly and go on producing, which creates a situation of excess supply in the market. Prices tend to fall.
Trough
The economy’s growth rate becomes negative. Prices along supply and demand contract reach their lowest point. There is extensive depletion of national income and expenditure.
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recovery
the economy moves to the stage of recovery. In this phase, there is a turnaround in the economy. it begins to recover from the negative growth rate. Demand starts to pick up due to low prices and, consequently, supply begins to increase.
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Peak
Maximum Growth is reached and economic indicators can't go further. It is the highest point displayed before economic reversal happens and goes downward.
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