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Money was very thin and couldn't afford the war much. This is a Recession
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Mostly agricultural and the expansion of residency to the West made more land available to farmers, espescially since the cost of the land was cheap. This is Expansion
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The rapid inventing of machienes that increase productivity made business more profitable. This is peak
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Industrial Revolution
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Union makes money while the Confederacy economy fails. Little recession.
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More inventions made to make life easier and business more profitable(like electricity). US leads world in manufacturing output. Expansion
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High taxes and what not to pay off for the war effort. Recesion
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High war taxes no longer and federal debt cut by a third. Expansion to peak
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Stock Market crashes and we go into the worst economy the US has ever had. Trough
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With many men going over seas to fight in the war and most of America working to make bullets and other war supplies, America's economy was going very well. Recovery
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The "Golden Age" of the economy. The middle class swelled and a very well work force made sure this was good. Peak
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Steady decline. Inflation and oil crash. Recession
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House market crash. Banking system faces crisis. Large investment firms fall. Recession