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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?
