some characteristics are: 1. Lower industrial production 2. Lower per capita consumption 3. high unemployment 4. high inflation 5. Declining GDP 6. Declining profits & revenues etc...
Employment is at its peak. prices are very high. purchasing power is also very high. Aggregate demand in the economy is also very high. Output which is production is also at its peak. Consumption of...
According to Muhammad Farooq Arby from State Bank of Pakistan, Pakistan has completed two business cycles since independence. First from 1949 to 1969. Second from 1969 to 1991. The third cycle has...