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Contrast the phases of business cycles Business Cycle Graph Long-term growth trend Expansion Contactian Economic Activity Time 1. What is an economic cycle? Explain. 2.

Contrast the phases of business cycles

Business Cycle Graph Long-term growth trend Expansion Contactian Economic Activity Time 1. What is an economic cycle? Explain. 2. What are the four phases of the business cycle? Explain each one. 3. Do the four phases have a certain order? Explain. 4. Does an economic cycle have a specific time of months or years? Explain

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