Expansion: A speedup in the pace of economic activity defined by high growth, low unemployment, and increasing prices. The period marked from trough to peak.

扩张：经济增长速度加快，由高增长、低失业率和物价上涨所决定。包括从低谷到高峰的时期。

Peak: The upper turning point of a business cycle and the point at which expansion turns into contraction.

峰值：商业周期的上升拐点和收缩拐点。

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.

收缩：经济活动放缓，由低增长或停滞增长，高失业率和价格下降所决定。包括从峰值到低谷的时期。

Trough: The lowest turning point of a business cycle in which a contraction turns into an expansion. This turning point is also called Recovery.

低谷：商业周期中收缩转变为扩张的最低拐点。这个拐点也称为复苏。

These four phases also make up what is known as the "boom-and-bust" cycles, which are characterized as business cycles in which the periods of expansion are swift and the subsequent contraction is steep and severe.

这四个阶段也构成了所谓的“繁荣与萧条”周期，其特征扩张迅速，收缩陡峭的商业周期。

But What About Recessions?

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