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With the aid of a diagram,describe the complete business cycle in the short-run and long-run.
Federal Reserve Board
A board of governors overseeing the Federal Reserve System, the central banking system of the United States, responsible for setting national monetary policy.
Eminent Domain
The right of a government to expropriate private property for public use, with compensation to the owner.
Private Property
Land or belongings owned by an individual or group, legally protected by laws of the jurisdiction in which it is located.
Contracting Power
The authority granted to entities, often within the government, to enter into legal agreements or contracts, often for procurement or services.
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