Refer to the following figure when answering
Figure 17.3: Change in Private Inventories: 1980-2012 
(Source: Federal Reserve Economic Data, St. Louis Federal Reserve)
-Consider Figure 17.3, which shows changes in private inventories. Which of the following (approximate) dates is likely to be a period of recession? Given your analysis, inventories are:
Definitions:
Behavioral Concept
A concept in finance that incorporates psychological theories into conventional economic theory to explain unusual market phenomena.
Net Income
The total profit of a company after all expenses and taxes have been deducted from revenue.
Resistance-Level
A price level at which a stock or market consistently fails to rise above, often signaling a possible sell-off.
Stock Price
The current price at which a specific stock is traded on the stock market.
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