GROWTH DEVELOPMENT CHILD
GROWTH AND DEVELOPMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Slump
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Boom
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Trend
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Recession
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Detailed explanation-1: -During the expansionary phase business sales rise, GNP grows very fast, and there is a decline in the rate of unemployment. The expansion eventually blossoms into another business peak. The peak, however, peters out and turns to be a contraction, starting a new cycle.
Detailed explanation-2: -Although there are numerous theories explaining what causes economic cycles, most generally agree on the four phases: expansion, peak, contraction, and recovery. Phase 1: Expansion. During the expansion phase, interest rates are often on the low side, making it easier for consumers and businesses to borrow money.
Detailed explanation-3: -U.S. gnp for 2021 was $23, 539.92B, a 9.83% increase from 2020. U.S. gnp for 2020 was $21, 432.32B, a 1.29% decline from 2019. U.S. gnp for 2019 was $21, 713.40B, a 4.69% increase from 2018. U.S. gnp for 2018 was $20, 739.77B, a 7.71% increase from 2017.
Detailed explanation-4: -A sustained period in which real GDP is rising is an expansion; a sustained period in which real GDP is falling is a recession.