Founded in 1733 by James Oglethorpe as a debtor’s colony

colony of Georgia

Explanation:

an expansion is one of two basic business cycle phases; the other is contraction. the transition from expansion to contraction is a peak, and the changeover from contraction to expansion is a trough.

states

explanation:

as the old saying goes, all politics are local. state and federal governments affect our daily lives in numerous ways. yet, in our federal system, there is supposed to be a balance between federal and state power. as james madison envisioned it in federalist no. 51, “the power surrendered by the people” would be “divided between two distinct governments,” creating a balance of power that would enable the “different governments [to] control each other.”