The U.S.economy has experienced alternating periods of expansion and contraction in economic activity relative to its long-term growth trend in the economy.These are called economic fluctuations or business cycles.

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Economic fluctuations or business cycles refer to the alternating periods of expansion and contraction in economic activity relative to the long-term growth trend of the economy.

The USeconomy Has Experienced Alternating Periods of Expansion and Contraction in in Economic