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dupoyjohn134 dupoyjohn134
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4 years ago
If the rate of change in output is negative

▸ then the economy is in the expansionary phase of the business cycle regardless of the overall level of output.

▸ but the level of output is high, then the economy is still in the expansionary phase of the business cycle.

▸ but the level of output is low, then the economy is entering the expansionary phase of the business cycle.

▸ then the economy is in the contractionary phase of the business cycle regardless of the overall level of output.
Textbook 
Essential Economics for Business

Essential Economics for Business


Edition: 5th
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JlynnJlynn
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4 years ago
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dupoyjohn134 Author
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4 years ago
Good timing, thanks!
jcarter
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Yesterday
Helped a lot
Smair87
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2 hours ago
I appreciate what you did here, answered it right Smiling Face with Open Mouth
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