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- The boom phase of the business cycle is characterized by the following:
Learn more:✕This summary was generated using AI based on multiple online sources. To view the original source information, use the "Learn more" links.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 era of economic development and expansion is referred to as the “ boom ” phase of the business cycle. Economic indices, including employment, GDP, and consumer spending, are rising during this time. Businesses often see greater demand for their goods and services during the expansion period, which results in higher output and hiring.www.geeksforgeeks.org/what-is-business-cycle/ - People also ask
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