Difference between revisions of "Business cycle"
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==Definition== | ==Definition== | ||
According to [[Principles of Economics by Timothy Taylor (3rd edition)]], | According to [[Principles of Economics by Timothy Taylor (3rd edition)]], | ||
| − | :[[Business cycle]]. | + | :[[Business cycle]]. Relatively short-term movement of the economy in and out of recession. |
| + | According to [[Macroeconomics by Mankiw (7th edition)]], | ||
| + | :[[Business cycle]]. Economy-wide fluctuations in output, incomes, and employment. | ||
[[Category: Economics]][[Category: Articles]] | [[Category: Economics]][[Category: Articles]] | ||
Latest revision as of 16:54, 1 July 2020
Business cycle is the relatively short-term movement of the economy in and out of recession.
Definition
According to Principles of Economics by Timothy Taylor (3rd edition),
- Business cycle. Relatively short-term movement of the economy in and out of recession.
According to Macroeconomics by Mankiw (7th edition),
- Business cycle. Economy-wide fluctuations in output, incomes, and employment.
