- Created by: Ben_95
- Created on: 30-03-14 12:29
Economic cycle = fluctuations in the level of real GDP.
Normally four stages of the economic cycle:
1. Recession - when the rate of economic groth becomes negative causing real GDP to fall.
2. Recovery - when economic growth becomes positive after a recession.
3. Boom - when actual growth exceeds economic growth.
4. Slowdown - when the economic…