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On the Micronesian island of Yap, the money that is primarily used as currency is
Economic Expansions
Periods when an economy grows and not just recovers from a decline, typically seen by increases in industrial production, employment, and sales.
Mortgage Default Rates
The percentage of borrowers failing to make their mortgage payments on time, leading to default.
2008 Recession
A significant decline in economic activity spread across the economy, lasting more than a few months, which was prominently initiated in 2008 due to the collapse of the housing market and financial sector.
Economic Downturn
A period of declining economic performance across an economy, characterized by reduced GDP, employment, and spending.
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Q170: When equilibrium GDP is below potential GDP,