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In Real Business Cycle Theory,business Cycle Expansions Begin as a Result

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In real business cycle theory,business cycle expansions begin as a result of changes in


Definitions:

Voluntary Part-time Workers

Individuals who choose to work hours less than the standard full-time work schedule, not due to economic necessity but personal choice.

Official Statistics

Quantitative data and information collected and published by governmental agencies or institutions for economic, demographic, and social analysis.

Child-care

The care and supervision of a child or children, typically from infancy to age thirteen, which includes educational, entertainment, and nutritional components.

Scientific Management

Scientific management is a system of improving productivity developed in the 1910s by Frederick W. Taylor. After analyzing the movements of workers as they did their jobs, Taylor trained them to eliminate unnecessary actions and greatly improve their efficiency.

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