GDP: noun- the measure of an economy adopted by the United States in 1991; the total market values of goods and services produced by workers and capital within a nation's borders during a given period (usually 1 year).
The business cycle: noun- recurring fluctuations in economic activity consisting of recession and recovery and growth and decline
Slump: | noun | a long-term economic state characterised by unemployment and low prices and low levels of trade and investment.
Recession: noun- the state of the economy declines; a widespread decline in the GDP and employment and trade lasting from six months to a year.
Recovery: The opposite of the recession, the growth of an economic state signalling the end of recession.
Boom: the state of economic prosperity.
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