The Munich Conference was an example of
before World War II.

Appeasement

Explanation:

Great Britain and France used a policy of appeasement before World War II. Basically, they allowed Germany and Italy to invade other countries,take territory,and build up their militaries. They hoped that if they didn't take any action, a war could be avoided. At the end of the Munich Conference, Great Britain and France allowed Germany to annex parts of Czechoslovakia.

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.

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~courtney