This economic model is called:
The business cycle
Supply & demand
Production Possibilities Curve
Circular Flow Model
Point 3 represents
Which recent historical event most represents Point 2 and 3 on the chart?
"Dot Com" Boom of the early 2000s
What is the biggest difference between a "recession" and a "depression"?
Length and severity of economic contraction
Depressions are more frequent than recessions
Depressions only happen when banks fail
Recessions are more severe than depressions