Define an expansion or boom.
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Q8: Define contraction (recession or slump).
Q9: Sticky prices and wages are often cited
Q10: How would the duration of unemployment be
Q11: Explain what is meant by deflation. Explain
Q12: For many decades it was common in
Q14: In the late 19th century the price
Q15: Explain what sticky prices are in terms
Q16: Provide some explanations for why prices might
Q17: List the three major concerns of macroeconomics.
Q18: Define the business cycle.
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