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10 cards from this deck
% annual change in real GDP
Movement TO the PPF (using existing resources more fully)
Outward SHIFT of PPF (expanding productive capacity)
AD=C+I+G+(X−M)AD = C + I + G + (X - M)AD=C+I+G+(X−M)
Rate economy can grow sustainably without causing inflation
Upswing & downswing in activity over 4-12 years
Real output falling for 6+ months (2 consecutive quarters)
Actual output > trend output (economy overheating)
Actual output < trend output (spare capacity in economy)
Recovery, boom, recession, trough
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