Tip: Not Smooth. During both recessions and expansions, the economy can go through brief reversals in economic activity. A recession may include a short period of expansion followed by further decline; an expansion may include a short period of contraction followed by further growth.
Source: National Bureau of Economic Research, 2015

What has upswings and downturns, troughs, peaks, and plateaus? Though such terms could easily describe a roller coaster ride, in fact they are commonly […]

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