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Business Cycles a.) What are the four phases of the business cycle? b.) How long do business cycles last? c.) Why does the business cycle

Business Cycles

a.) What are the four phases of the business cycle?

b.) How long do business cycles last?

c.) Why does the business cycle affect output and employment in capital goods industries and consumer durable goods industries more severely than in industries producing consumer non-durables?

(Please provide in-depth knowledge)

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