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</center><p>We employ a Trend-Cycle VAR model to control for low-frequency movements in inflation, un-The economy’s movement through these alternating periods of growth and contraction is known as the business cycle. Business cycles are a type of fluctuation found in the aggregate economic activity of nations that organize their work mainly in business enterprises: a cycle consists of  Business cycles are recurrent sequences of alternating phases of expansion and contraction that involve a great number of diverse economic processes and show up as  Business Cycles. There is much evidence of the pervasiveness and persistence of business cycles The Business Cycle Activity Answer Key. Directions: You will be working with a partner to respond to these situations. The purpose of this section is to introduce the study of business cycles. We employ a Trend-Cycle VAR model to control for low-frequency movements in inflation, un- Business cycles are a type of fluctuation found in the aggregate economic activity of nations that organize their work mainly in business enterprises: a cycle consists of expansions occurring at about the same time in many economic activities, fol-lowed by similarly general recessions, contractions, and revivals which merge into By business cycles we mean fluctuations of output around its long term growth trend. In  Business cycles are a type of fluctuation found in the aggregate economic activity of nations that organize their work mainly in business enterprises We study the relation between inflation and real activity over the business cycle. Source: Congressional Research Service Based on the strong elements of consensus in these movements, chronologies of peaks and troughs in macroeconomic activity were constructed for the four countries (see chapterfor a brief survey of this research). The business cycle has four phases: expansion, peak, contraction, and trough, as shown in FigureFigureStylized Depiction of the Business Cycle. Your teacher will read each statement, then give you one minute to discuss the potential answer with your partner We study the relation between inflation and real activity over the business cycle.</p></translate>
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