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Strong economic expansionThe boom phase of the business cycle is a period of strong economic expansion12345. During this phase, many businesses operate at full capacity or above capacity, and the unemployment rate is very low. Income and production reach high levels, but this rapid growth can also lead to inflation. The boom phase follows a period of recession and is characterized by rising GDP and other key economic indicators24.Learn more:✕This summary was generated using AI based on multiple online sources. To view the original source information, use the "Learn more" links.boom is a period of strong economic expansion where many businesses are operating at full capacity or above capacity, and the unemployment rate is very low. Income and production are at very high levels. This can lead to rapid growth in prices. recession is when output has fallen for a period of time and the unemployment rate increases.www.rba.gov.au/education/resources/presentations…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…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-…The periods of expansion (economic growth where real output increases) follow a period of recessions. 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.www.intelligenteconomist.com/business-cycle/A strong upward fluctuation in economic activity is referred to as a boom. As economies try to recover from the slowdown, recession, and depression, the measures taken by governments and the private sector may place economic activities in such a way that the economic systems fail to digest. This is the peak period of the boom.prepp.in/news/e-492-business-cycles-boom-recess…- People also ask
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