Explain the fundamental causes of nations business cycle fluctations.Also examine the relationship between total spending by government and consumers in a nation and location of countries GDP on the business cycle.
Explain the fundamental causes of nations business cycle fluctations.Also examine the relationship between total spending by government and consumers in a nation and location of countries GDP on the business cycle.
Chapter1: Making Economics Decisions
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Explain the fundamental causes of nations business cycle fluctations.Also examine the relationship between total spending by government and consumers in a nation and location of countries
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In an economy, the fall or rise in the production output of commodities and services are described by the business cycle. It is measured by the increase and decrease in the real GDP. When the economy starts reaching its maximum growth from trough to the peak, it is called the expansionary phase. When growth starts falling is shown by a downward movement from peak to trough and it is called the recessionary phase.
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