| Great Depression | A historical period of very low output and very high unemployment
that occurred during the years 1929–1941 in the United States. A number of other countries also experienced severe depressions during this period.
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| Great Moderation | Era of relatively stable economic activity from the early 1980s to
2007.
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| Great Recession | Recession of 2007–2009.
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| Keynesian revolution | Modern understanding that aggregate demand affects the level
of economic activity.
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| New Deal | Slogan for Franklin D. Roosevelt’s economic policy reforms.
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