LO 3 Consumption of durables is more variable relative to trend than is consumption of nondurables, and
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LO 3 Consumption of durables is more variable relative to trend than is consumption of nondurables, and consumption of nondurables is more variable relative to trend than is consumption of services. Speculate on why we observe these phenomena, and relate this to the key business cycle facts in Tables 3.1 and 3.2.
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