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These fluctuations are often measured using real gdp.
Despite being termed cycles, these fluctuations in economic growth and decline do not follow a purely mechanical or predictable periodic pattern. In recent years economic theory has moved towards the study of economic fluctuation rather than a 'business cycle'. Some economists believe calling the business cycle a "cycle" to be a misnomer, because of its non-cyclical nature.
They believe that for the most part, excluding very large supply shocks, business declines are more of a monetary phenomenon. However, the term is still widely used. Mexico's economy has achieved broad stability and enhanced resilience in recent years, and the country has enjoyed steady growth...
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