3. Which of the following steps of the traditional boom / bust cycle have been replaced by the numbers 1, 2 and 3 in this picture?

 

Interest rates rise
Increased demand for employment and raw materials
Staff wages and raw materials prices rise

Increased demand for employment and raw materials
Interest rates rise
Staff wages and raw materials prices rise

Staff wages and raw materials prices rise
Increased demand for employment and raw materials
Interest rates rise

  • Increased demand for employment and raw materials
    Staff wages and raw materials prices rise
    Interest rates rise

Staff wages and raw materials prices rise
Interest rates rise
Increased demand for employment and raw materials

Interest rates rise
Staff wages and raw materials prices rise
Increased demand for employment and raw materials

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