KEYWORDS

• Economic cycle:


  pattern of peaks and troughs in growth by economies
• Inflation:


  an increase in the price level of goods and services over a period of time.
• Deflation:


  occurs if the price level is falling 
• Disinflation


  occurs if the rate of inflation is falling
• Aggregate demand:


  total spending of goods and services in a economy.

  AD = C + I + G + (X-M)
• Aggregate supply:


  total output of a economy