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Question
Explain cyclic variations
Solution
These variations are not necessarily uniformly periodic in nature.
That is, they may or may not follow exactly similar patterns after equal intervals of time.
Generally, one cyclic period ranges from 7 to 9 years and there is no hard and fast rule in the fixation of year for a cyclic period.
For example, every business cycle has a Start-Boom – Depression.
Recover, maintenance during booms and depressions, changes in government monetary policies, changes in interest rates.
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