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Describe historical accounts of adolescence,and explain how lifespan theorists currently view this stage of development.
Cyclical Unemployment
Unemployment attributed to the cyclical trends in the economy, typically increasing during recessions and decreasing during expansions.
Recovery Phase
A stage in the economic cycle where economic activity picks up and GDP starts to rise again after a period of decline or recession.
Prosperity Phase
A stage of the business cycle in which economic activity is growing, leading to higher levels of employment, income, and production.
Recession Phase
is a period of temporary economic decline during which trade and industrial activities are reduced, typically identified by a fall in GDP in two successive quarters.
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