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What is the business cycle? Graph the real business cycle of Pakistan for the period 1960 to 2019. label the four phases of the cycle.

What is the business cycle? Graph the real business cycle of Pakistan for the period 1960 to 2019.

label the four phases of the cycle. Explain what is happening during each phase of the cycle with: output, employment and inflation.

(Data hint: Download data from ministry of finance website)

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