Examlex
Application software controls the basic workings of a computer system.
Contractions
Periods in the business cycle where there is a decline in economic activity, marked by reduced spending and increased unemployment.
Recession
A brief phase of economic downturn, signified by reduced commercial and industrial operations, often defined by a sequential fall in GDP over two quarters.
Expansionary Phase
A period within the business cycle where economic activity, including production, sales, and employment, is growing.
Consumer Confidence
A statistical measure that reflects the overall economic health as perceived by consumers, based on their spending and saving habits.
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