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In which phase of the business cycle will the economy most likely experience rising real output and falling unemployment rates?
Gasoline
A volatile, flammable liquid derived from petroleum, used primarily as fuel in internal combustion engines.
Gas Pump
A gas pump is a machine at a filling station that is used to transfer gasoline from a reservoir to a vehicle's fuel tank.
Reservation Price
The maximum or minimum price at which a consumer is willing to buy or sell a good or service.
Utility Function
A representation in economics that maps a set of goods and services into a numerical level of utility (satisfaction or happiness) that a consumer derives from those goods and services.
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