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The Factor Leading to Business Cycles in the _______ Cycle

question 14

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The factor leading to business cycles in the _______ cycle theory is unexpected fluctuations in aggregate demand while in the _______ cycle theory both unexpected and expected fluctuations in aggregate demand are factors that lead to business cycles.


Definitions:

Variable Overhead Spending Variance

The difference between the actual variable overheads incurred and the expected costs based on standard overhead rates.

Standard Quantity

The expected or predetermined amount of materials or input required to produce a single unit of product.

Standard Price

A predetermined cost assigned to materials, labor, and overhead, used as a benchmark against which the actual costs are compared.

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