What are the four periods of the business cycle?

What is a 'depression'?

What happens during a recession? (3)

What is a 'boom'?

What is expansion?

What type of goods are more affected by short-term economic fluctuations?

What is usually the main reason for a recession?

What keeps the business cycle going? (4)

What do classical economists believe?

What does the 'Keynesian' theory suggest?

What does the 'Monetarist' theory believe?