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What do you call the period of time when the economy is shrinking?
The period of time when the economy is shrinking is called a recession. During a recession, economic activity declines, leading to reduced consumer spending, rising unemployment, and lower production levels. This phase is typically characterized by a drop in gross domestic product (GDP) for two consecutive quarters.
The economic system in which the government is in almost complete control of the economic activity is called?
State capitalism. Not Communism, which has no government and no wages system.
What is the unemployment produced by fluctuations in economic activity called?
The unemployment produced by fluctuations in economic activity is called
What is a sentence for the words service economy?
This book is a model of applied ecological economics.
What are types of economic system?
Free economic system which is also called capitalist economy Centrally planned economic system which is also called the socialist economy Mixed economic system Military economic system
What do you call the period of time when the economy is shrinking?
The period of time when the economy is shrinking is called a recession. During a recession, economic activity declines, leading to reduced consumer spending, rising unemployment, and lower production levels. This phase is typically characterized by a drop in gross domestic product (GDP) for two consecutive quarters.
The economic system in which the government is in almost complete control of the economic activity is called?
State capitalism. Not Communism, which has no government and no wages system.
What is the unemployment produced by fluctuations in economic activity called?
The unemployment produced by fluctuations in economic activity is called
When the GDP declines for at least 2 straight quarters it is called?
When the GDP declines for at least two consecutive quarters, it is referred to as a recession. This economic term indicates a period of negative growth, often leading to reduced consumer spending, increased unemployment, and overall economic contraction. Recessions can result from various factors, including decreased demand, financial crises, or external shocks to the economy.
What is a sentence for the words service economy?
This book is a model of applied ecological economics.
What are types of economic system?
Free economic system which is also called capitalist economy Centrally planned economic system which is also called the socialist economy Mixed economic system Military economic system
What is the peak of economic activity called?
prosperity
The study of the economic behavior of individuals and firms is called?
Meaningful statement about the economic behavior or the economy is called?
What is economic system in the US is called an?
A mixed economy
What is the opposite of recession?
the answer is an economic boomin economy it is called a "boom"
What is An economic system in which the government makes all economic decisions?
it's called a command economy
What is a period of reduced economic activity called?
a recession or depression
