During a 'Boom' stage of the business cycle, the rate of GDP increase is unsustainably high and the rate of unemployment is unsustainably low. During an 'Expansion' stage, the rate of GDP increase is positive and the rate of unemployment is 'natural' or minimal. During a 'Recession' stage, the rate of GDP increase is negative and the rate of unemployment is higher. During a 'Depression' stage, the rate of GDP increase is unsustainably low and the rate of unemployment is unsustainably high.

Authors

• Person: Not available Organization: LibreTexts
  1.3: Systemic or "Macro" Factors That Affect Financial Thinking

Sources

• 1.3: Systemic or "Macro" Factors That Affect Financial Thinking biz.libretexts.org LibreTexts via serper

Referenced by nodes (3)

• GDP concept
• business cycle concept
• unemployment concept