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Difference between the business cycle and economic growth

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Reference no: EM131908987

a) If real GDP in 2017 exceeded real GDP in 2016, did real output rise? Did prices rise? If nominal GDP in 2017 exceeded nominal GDP in 2016, did real output rise? Did prices rise?

b) Explain the difference between the business cycle and economic growth.

Reference no: EM131908987

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