|Mause I 221
Economic Cycle/Economic Theory: In practice, a distinction is not always made between economic cycle and growth.
Def Economic fluctuations: are generally defined as perennial, more or less regular fluctuations in overall economic activity or fluctuations in the degree of utilisation of production potential. (1)
Def Growth: the increase in the production or value added potential of an economy dependent on the available production factors and the increase in factor productivity as a function of technological progress.
Four phases of an economic cycle:
1. downturn (recession)
2. crisis (depression)
These terms and the classification are not used uniformly in the literature.
1. G. Tichy, Konjunkturpolitik. Quantitative Stabilisierungspolitik bei Unsicherheit, Berlin/ Heidelberg 2008, p. 8._____________Explanation of symbols: Roman numerals indicate the source, arabic numerals indicate the page number. The corresponding books are indicated on the right hand side. ((s)…): Comment by the sender of the contribution. The note [Author1]Vs[Author2] or [Author]Vs[term] is an addition from the Dictionary of Arguments. If a German edition is specified, the page numbers refer to this edition.
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