About Business Cycle
Business Cycles are the "ups and downs" in the economy. The "ups" are measured by how much jobs, production, and sales grow. The "downs" are periods when the economy shrinks. Found at http://www.frbsf.org/education/publications/doctor-econ/2002/may/business-cycles-economy
Period of growth, lower unemployment, and high consumer spending.
Highest point in the business cycle, high consumer spending but one down side will be inflation.
Economy starts to slow down, decline in profits, productivity, and demand. More people being laid-off.
Recession and Trough
A decline in economic output for 6 months. Also if a nation stays in a recession for a long period of time it may become a depression. The Trough is the lowest point of the business cycle.
1. Gross Domestic Product- total sum of all goods and services produced in one year.
2. Per Capita GDP-Value of what one person produces in a country in a given year.
3. Consumer Price Index-Traces changes of prices in a particular good or service.
4. National Dept-Amount of money that the U.S. owes to other countries.