A contraction is the phase of the business cycle when the economy declines, often with falling real GDP and rising unemployment, moving from peak toward trough (expansion, peak, contraction, trough).
Small-business owners need to realize that business operates in cycles. During the growth or maturation phase, businesses purchase equipment and hire employees. Eventually, they grow so large they can ...
Carla Tardi is a technical editor and digital content producer with 25+ years of experience at top-tier investment banks and money-management firms. Photo by Fanatic Studio/Getty Images Economic ...
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