Solved: What do the terms expansion and contraction mean, Microeconomics

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What do the terms expansion and contraction mean

Discussion:

Inflation

Inflation, stagflation, recession, depression, expansion, and contraction are commonly used terms in economics and the media. What do these terms mean? In your explanation, discuss how some of these terms are related?

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(200 words or less):

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Microeconomics: What do the terms expansion and contraction mean

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