Business cycle
What is meant by the term business cycle as described by economists?
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It refers to alternating increases and decreases in the level of business activity which is measured by the level of real GDP. The changes in activity levels are manifested in other variables like consumption spending, interest rates, consumer confidence levels, business confidence, unemployment levels, inflation rate, among many other indicators.
If the price of K declines, the demand curve for the complementary project J will:
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The basic determinant of the transactions demand for money is the
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Why the value of MPC is not greater than 1? Answer: This is because change in consumption can never be more than change in income.
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