APMacro- Unit 2 Review

period of economic growth

• expansion

• peak

• recession

• trough

highest point of cycle and economic expansion

• expansion

• peak

• recession

• trough

period of economic contraction (downturn)

• expansion

• peak

• recession

• trough

end of economuc downturn

• expansion

• peak

• recession

• trough

more jobs (decrease unemployment)

• expansion

• peak

• recession

• trough

pay raises

• expansion

• peak

• recession

• trough

people invest more

• expansion

• peak

• recession

• trough

new businesses created

• expansion

• peak

• recession

• trough

people spend more money

• expansion

• peak

• recession

• trough

job layoffs (increase unemployment)

• expansion

• peak

• recession

• trough