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What is a recessionary (contractionary) stage of a business cycle? What is an inflationary (expansionary) stage of a business cycle? Discuss the difference in the

What is a recessionary (contractionary) stage of a business cycle? What is an inflationary (expansionary) stage of a business cycle? Discuss the difference in the environment (pros, cons, problems, etc.), in which a firm would operate if the economy is contracting vs. expanding

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