Define cyclical fluctuations
Define cyclical fluctuations?
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Durable goods output is more unstable than non-durables and services because spending on latter usually cannot be postponed.
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For the question below, utilize the given information. The market for gizmos is competitive, with an increasing sloping supply curve and a downward sloping demand curve. With no govt. intervention, the equilibrium price is $25 and the equilibrium quantity is 10,000 gi
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