Expansion:During expansion, the economy experiences relatively rapid growth,interest ratestend to be low, production increases, and inflationary pressures build. Peak:The peak of a cycle is reached when growth hits its maximum rate. Peak growth typically creates some imbalances in the economy that need to be corrected. Contraction:Acorrectionoccurs through a period of contraction when growth slows, employment falls, and prices stagnate. Trough:Thetroughof the cycle is reached when the economy hits a low point andgrowth begins to recover.

Expansion: During expansion, the economy experiences relatively rapid growth,interest ratestend to be low, production increases, and inflationary pressures build. Peak: The peak of a cycle is reached...

Expansion:During expansion, the economy experiences relatively rapid growth,interest ratestend to be low, production increases, and inflationary pressures build.

Peak:The peak of a cycle is reached when growth hits its maximum rate. Peak growth typically creates some imbalances in the economy that need to be corrected.

Contraction:Acorrectionoccurs through a period of contraction when growth slows, employment falls, and prices stagnate.

Trough:Thetroughof the cycle is reached when the economy hits a low point andgrowth begins to recover.

Jun 13, 2022