Final answer:
Peak production precedes an economic contraction characterized by slowing growth, rising unemployment, and decreased pricing pressures.
Explanation:
Peak production usually comes before a period of economic contraction. As defined, a peak occurs when the economy is producing at its maximum allowable output, employment is at or above full employment, and inflationary pressures are evident. Following a peak, the economy typically enters into a contraction phase, where growth slows, unemployment increases, and pricing pressures subside.
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