The Passing of Grandison. What racial sterotypes does Charles W Chesnutt explore in The Passing of Grandison?. One racial stereotype is that slaves did not have feelings like most people. It was typical for a white man to feel that a black man did not love or feel.
Contraction: A slowdown in the pace of economic activity defined by low or stagnant growth, high unemployment, and declining prices. It is the period from peak to trough. Trough: The lowest turning point of a business cycle in which a contraction turns into an expansion. This turning point is also called Recovery.
Economic contractions, troughs, expansions and peaks are unpredictable phases of economic activity referred to as economic business cycles. The gross domestic product, or GDP, is the total market value of goods and services the country produces. As the economy goes through business cycle changes, these positively or negatively affect the GDP. During a contraction, economic output slows, usually due to decreased demand for products and services, an increase in the cost of raw materials or both.