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Richard Nixon's policy of détente
Last Recession
Refers to the most recent period of significant decline in economic activity across the economy, lasting more than a few months.
Winter
The coldest season of the year, occurring between autumn and spring.
Disinflation
A slowdown in the rate of inflation, marked by a gradual decrease in the general price level of goods and services over time.
Purchasing Power
The ability of an individual, firm, or group to purchase goods and services with a given unit of currency.
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