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What is meant by the term business cycle list the four

Question 1 (A)

What is meant by the term business cycle? List the four phases of the business cycle.

If events in a single country cause its economic activity to move up or down through a business cycle, what difference(s) might it make that the economy is closely integrated with other economies in the world?

Question 1

With the aid of a graph, explain the concept of a J curve.

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