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  • Business cycles all display the following characteristics except #191
  • The trough of a business cycle occurs when hits its lowest point #192
  • The low point in the business cycle is referred to as the #193
  • When aggregate economic activity is increasing, the economy is said to be in #194
  • The high point in the business cycle is referred to as the #195
  • When aggregate economic activity is declining, the economy is said to be in #196
  • Peaks and troughs of the business cycle are known collectively as #197
  • Turning points in business cycles occur when #198
  • Who officially determines whether the economy is in a recession or expansion? #199
  • When national output declines, the economy is said to be in #200
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