The pattern of changes in economic growth that appear to be cyclic overtime.
A period in which there is a decline in the growth rate of the economy;
also called a recession.
A recession that is extremely severe.
A term used synonomously with "recovery."
A temporary economywide decline in output.
The period following a contraction in which the economy experiences
increased growth, sometimes at a faster-than-normal rate.
"Supply creates its own demand" is the brief way of stating a law named
after French economist Jean-Baptiste Say.
Yellow Dog Contract
An agreement between an employer and an employee in which the employee
agrees, as a condition of employment, not to join a union during the course
of his employment. Made illegal in 1932, by the Norris-La Guardia Act.