When economists determine that a nation’s gdp has declined

The correct answer is economic shrinkage.

Explanation:

An economic contraction is a general reduction of goods and services in a market. It is typically related to a recess in production caused by external factors, such as weather conditions, or by internal factors, such as taxes, high regulation and other impacts on producers' incentives.

Both the contraction and economic expansion have to do with the cycles of global production of goods in an economy, while inflation and deflation refer to the exchange rate appreciation cycle.

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