What rights did the black codes extend?

The Black Codes were laws that were introduced in the Southern States restricting the freedom of black people (freedmen) and the right to own property, conduct business, buy and lease land, and move freely through public spaces such as Southern towns.

Explanation:

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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.