madelllinefreeman
23.09.2021 •
Business
Many parts of the economy are related to one another. In particular, a decrease in spending in one area may have an impact somewhere else. Provide an example of this scenario. Economic theory tells us that one person's spending is another person's income." What is meant by this phrase? Explain in your own words
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Ответ:
These are the four main features: Expansion (Boom, Upswing or Prosperity) , Peak (upper turning point) , Contraction (Downswing, Recession or Depression) , and Trough (lower turning point). Here is an illustration to help.
Hope this helped you!