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In economics, a trough is a low turning point or a local minimum of a business cycle. The time evolution of many economics variables exhibits a wave-like behavior with local maxima (peaks) followed by local minima (troughs). A business cycle may be defined as the period between two consecutive peaks.[1][2]
The period of the business cycle in which real GDP is increasing is called the expansion, in which the real GDP moves from the trough towards the peak.[3]
References edit
- ^ Hyman, David N. (1992). Economics. Irwin. p. 621. ISBN 9780256111606.
- ^ Hafer, Rik W. (2005-07-30). The Federal Reserve System: An Encyclopedia. ABC-CLIO. p. 46. ISBN 9780313062742.
- ^ Picardo, Elvis (2003-11-25). "Business Cycle". Investopedia. Retrieved 2018-09-27.
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