Examlex
Pausing in the coaching conversation to summarize key points is reviewing.
Recessions
Temporary economic slumps marked by diminished business and manufacturing activities, conventionally defined by a sequential fall in GDP during two quarters.
Economy
The economy encompasses all activity related to production, consumption, and trade of goods and services in an area, involving various sectors such as agriculture, manufacturing, and services.
Keynesian
Relating to the economic theories of John Maynard Keynes, focusing on how aggregate demand influences economic output and inflation.
Classical Economic Systems
An economic framework based on free markets, limited government intervention, and the belief in the efficiency of market outcomes as guided by invisible hand principles.
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