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Economics

Determine the Business Cycle and Classical Economists

Business Cycle: The business cycle is the fluctuations in the rate of economic growth that take place in the economy. The peak of the business cycle is usually referred to as a boom, and the trough as a recession or depression.

Classical Economists: Classical theories revolved mostly around the role of markets in the economy. If markets worked freely and nothing stopped their rapid clearing then the economy would prosper.

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Microeconomics, Economics

Category:- Microeconomics
Reference No.:- M9574939

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