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The collection,use,and disclosure of personal information by federal government institutions are regulated by the Privacy Act.The purpose of collection must be related directly to
Contraction
The downturn of the business cycle, when real GDP is declining.
Recovery Phase
A period within the economic cycle where activity rebounds following a recession, characterized by increasing GDP, employment, and investment.
Expansion
In economics, expansion refers to a phase of the business cycle where the economy grows and output increases, often characterized by rising employment and income.
Recession Phase
A temporary downturn in the economy, observed through decreased industrial and commercial pursuits, typically observed by a GDP decline in two consecutive quarters.
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