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Which of the following is the factor that leads to business cycles in the new classical business cycle theory?
Regional
Pertaining to or characteristic of a specific geographic area or district within a country, often highlighting local variations.
Polycentric
An approach in international business which assumes that host country cultures are different and businesses must adopt local strategies to succeed.
Geocentric
A worldview or strategy that considers the entire globe as a potential market or action ground, promoting universal standards and approaches.
Low-Context
Referring to cultures or communication styles that rely more on explicit, direct language and less on context or nonverbal cues to convey meaning.
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