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bussiness cycle, unemployment, inflation
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CHAPTER 29Business Cycles, Unemployment, and
, Chapter Contents
The Business Cycle
Unemployment
Inflation
Redistribution Effects of Inflation
Does Inflation Affect Output?
, The Business Cycle
Alternating increases and decreases in eco
activity over time
Phases of the business cycle:
• Peak
• Recession
• Trough
• Expansion
, The Business Cycle Illustra
Peak
Level of real output
Peak
Peak
Trough
Trough
Time
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