KEY QUESTION What are the four phases of the business cycle? How long do business cycles last?

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KEY QUESTION What are the four phases of the business cycle? How long do business cycles last? How do seasonal variations and long-run trends complicate measurement of the business cycle? 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 nondurables?

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Economics

ISBN: 9780073336947

17th Edition

Authors: Campbell McConnell , Stanley Brue

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