What are the 4 phases of the business cycle
What are the 4 phases of the business cycle?
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Four phases of the business cycle are identified over a several year period:
1. A peak is when business activity reaches a temporary maximum with full employment and near-capacity output.
2. A recession is a decline in total output, income, employment, and trade lasting six months or more.
3. The trough is the bottom of the recession period.
4. Recovery is when output and employment are expanding toward full employment level.
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What happens in the product markets?
Cost of debt= (1-tax rate)* interest rate * (debt ÷capital employed)Cost of equity = risk free rate + market premium (equity shareholders funds÷ capital employed)
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Illustrate the 3rd the government redistributes income?
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