Consider the following statement: In a business cycle, recessions are followed by expansions. Therefore, it is not

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Consider the following statement: “In a business cycle, recessions are followed by expansions. Therefore, it is not necessary to be concerned about the costs of business cycles, because they will average out.”Do you agree with this statement? Briefly explain.
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Macroeconomics

ISBN: 9780132109994

1st Edition

Authors: Glenn Hubbard, Anthony Patrick O'Brien, Matthew P Rafferty

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