The business cycle reflects both short-run fluctuations in output and long-run economic growth.

Name: The business cycle reflects both short-run fluctuations in output and long-run economic growth.
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Question

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The business cycle encompasses short-term fluctuations in economic activity, such as expansions and recessions, while long-term economic growth is driven by factors like technological advancements and increases in capital and labor.

The Business Cycle Reflects Both Short-Run Fluctuations in Output and Long-Run