Consider the diagram below. The line represents the economy's growth trend, and the curve represents the economy's

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Consider the diagram below. The line represents the economy's growth trend, and the curve represents the economy's actual course of business fluctuations. For each part below, provide the letter label from the portion of the curve that corresponds to the associated term.
Consider the diagram below. The line represents the economy's growth

a. Contraction
b. Peak
c. Trough
d. Expansion

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Economics Today

ISBN: 978-0132554619

16th edition

Authors: Roger LeRoy Miller

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