Examlex
Which concept refers to the relative prices of goods a country imports and exports?
Business Cycle
The natural rise and fall of economic growth over time, consisting of periods of expansion, peak, contraction, and trough.
Successive Peaks
Repeated achieving of higher levels or values in a given sequence, often used in the context of economic growth, stock market performance, or other measurements of success.
Contraction
A phase of the business cycle where there is a decline in national output and economic activity.
Standard Of Living
The degree of wealth and material comfort available to a person or community, measured through income, employment, class disparity, poverty rate, and housing affordability.
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