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What Is the Factor That Leads to Business Cycles in the New

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What is the factor that leads to business cycles in the new classical cycle theory?


Definitions:

Bronfenbrenner

Urie Bronfenbrenner, a developmental psychologist renowned for the Ecological Systems Theory, which explains how the inherent qualities of a child and the characteristics of the external environment interact to influence how the child grows and develops.

Ecological-Systems Model

A framework identifying the various environmental layers that influence an individual's development, from immediate surroundings to broader societal contexts.

Critical Period

A specific time in development when certain skills or abilities are most easily learned.

Prenatal Development

The course of development and growth in the womb, from conception through to birth.

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