Definition
Predictable long-term pattern changes in national income. Traditional business cycles undergo four stages: expansion, prosperity, contraction, and recession. After a recessionary phase, the expansionary phase can start again. The phases of the business cycle are characterized by changing employment, industrial productivity, and interest rates. Some economists believe that stock price trends precede business cycle stages.
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'economic cycle' appears in the definitions of these other terms on BusinessDictionary.com: Kondratieff cycle, monetarism, open economy, overshoot and collapse, prosperity, and 
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