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Business cycle
More or less regular swings or wave-like fluctuations in the pace of a country's economic growth, well above and well below the long-term trend in the growth rate of total production; the ups and downs of overall business activity, as evidenced by surges and declines in GNP and GNP, unemployment rates, and the general price level; the boom-and-bust pattern of recession (or depression) and recovery.
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