what describe a typical business cycle?
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Business cycles are identified as having four distinct phases: peak, trough, contraction, and expansion. Business cycle fluctuations occur around a long-term growth trend and are usually measured by considering the growth rate of real gross domestic product.
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Business cycles are identified as having four distinct phases: peak, trough, contraction, and expansion. Business cycle fluctuations occur around a long-term growth trend and are usually measured by considering the growth rate of real gross domestic product.
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