Economists study two major macroeconomic topics that have to do with Real GDP: economic growth and business

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Economists study two major macroeconomic topics that have to do with Real GDP: economic growth and business cycles.
1. Define economic growth.
2. List the phases of the business cycle.
3. Give two definitions of recession.

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Economics

ISBN: 978-1285738321

12th edition

Authors: Roger A. Arnold

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Question Posted: Feb 12, 2016 07:11 AM

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Economists study two major macroeconomic topics that have to do with Real GDP: economic growth and business

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1 Economic growth occurs if Real GDP in one year is higher than Real GDP in the previo...View the full answer

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