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An economy grows, reaches a peak, then begins a downturn, followed by a period of negative growth (a contraction), that ends in a trough before the next upturn. These ups and downs in an economy are often referred to as __________. booms contractions business cycles recession and inflation
These ups and downs in an economy are often referred to as "business cycles". These cycles are to be expected and don't cause great alarm for economists or investors.
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