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TRADE CYCLES. DEFNITIONS. Anatol Murad ,’ Business cycles are alternations of prosperity and depression’. Types. Major Minor Very long. Phases. Expansion Recession Depression Recovery. Features. Employment Output Wages Prices Profits Cost of production Feelings . Theories.
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DEFNITIONS • AnatolMurad ,’ Business cycles are alternations of prosperity and depression’.
Types • Major • Minor • Very long
Phases • Expansion • Recession • Depression • Recovery
Features • Employment • Output • Wages • Prices • Profits • Cost of production • Feelings
Theories • Climate / sunspot • Psychological • Innovation • Samuelson • Hicks
Control • Monetary policy • Fiscal policy