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The keyword status determines whether an ad can be displayed at that point in time. The status can be inherited from its campaign or ad group (such as if a campaign was paused or ended), or they can be manually set (paused). It can also correspond to the approval process (such as if it is Pending Review or Eligible). Finally, something is hindering the performance of the keyword, its status may reflect that (such as low search volume on that keyword or your bid being too low).
PPC Management Agency Google Adwords Metrics Keyword Status