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- Learn more:✕This summary was generated using AI based on multiple online sources. To view the original source information, use the "Learn more" links.Employment typically tracks the economy's progress through the business cycle. During the "boom" phase, as the economy expands, employment and incomes increase. During the "bust" phase, employment falls off as the economy slows.www.thebalancemoney.com/boom-and-bust-cycle-…An economic boom is the expansion and peak phases of the business cycle. It's also known as an upswing, upturn, and a growth period. During a boom, key economic indicators will rise. Gross domestic product (GDP), which measures a nation's economic output, increases.www.thebalancemoney.com/economic-boom-4067…The booms characterize fast economic growth, which tends to be inflationary and unsustainable. During this expansion period employment, investment income, wages, profits, demand, and supply are high. The movement of the money supply is typically continuous and uninterrupted.www.intelligenteconomist.com/business-cycle/A business cycle is completed when it goes through a single boom and a single contraction in sequence. The time period to complete this sequence is called the length of the business cycle. A boom is characterized by a period of rapid economic growth, whereas a period of relatively stagnated economic growth is a recession.corporatefinanceinstitute.com/resources/economic…
Think of it like a wave:
- Expanding from a trough,
- Peaking at the crest,
- Descending (“ contracting ”) from the high point, and
www.britannica.com/money/stages-of-economic-cy… - People also ask
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