Physics, asked by singhankitvishe1185, 1 year ago

Discuss characteristic features of Industrial organization and also business cycles.

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Answered by thesmartlerner
0

A typical business cycle has two phases expansion phase or upswing or peak and contraction phase or downswing or trough. The upswing or expansion phase exhibits a more rapid growth of GNP than the long run trend growth rate. At some point, GNP reaches its upper turning point and the downswing of the cycle begins.



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