[{"data":1,"prerenderedAt":63},["ShallowReactive",2],{"term:business-cycle":3},{"term":4,"related":46},{"id":5,"title":6,"body":7,"category":27,"description":28,"extension":29,"faq":30,"meta":31,"navigation":32,"path":33,"related":34,"seo":39,"stem":40,"takeaways":41,"__hash__":45},"terms\u002Fterms\u002Fbusiness-cycle.md","Business Cycle",{"type":8,"value":9,"toc":22},"minimark",[10,15,19],[11,12,14],"h2",{"id":13},"understanding-business-cycle","Understanding Business Cycle",[16,17,18],"p",{},"The cycle has four phases: expansion, peak, contraction and trough. Expansions usually last much longer than recessions, but cycles are irregular in length and depth.",[16,20,21],{},"Causes include demand shocks, supply shocks, financial crises and policy changes.",{"title":23,"searchDepth":24,"depth":24,"links":25},"",2,[26],{"id":13,"depth":24,"text":14},"economy","The recurring rise and fall of economic activity around its long-run trend.","md",[],{},true,"\u002Fterms\u002Fbusiness-cycle",[35,36,37,38],"recession","output-gap","automatic-stabilizers","gdp",{"title":6,"description":28},"terms\u002Fbusiness-cycle",[42,43,44],"The cycle moves through expansion, peak, contraction and trough.","Expansions usually last longer than recessions.","No two cycles are alike.","Hi9k58Hqy6AoAb959yHjI6XzIgsNrPjIQDAEh-TMmvA",[47,51,55,59],{"title":48,"description":49,"path":50},"Automatic Stabilizers","Parts of the budget that support the economy in downturns without new legislation.","\u002Fterms\u002Fautomatic-stabilizers",{"title":52,"description":53,"path":54},"Gross Domestic Product (GDP)","The total value of goods and services produced in a country over a period.","\u002Fterms\u002Fgdp",{"title":56,"description":57,"path":58},"Output Gap","The difference between actual GDP and potential GDP.","\u002Fterms\u002Foutput-gap",{"title":60,"description":61,"path":62},"Recession","A significant, widespread decline in economic activity lasting more than a few months.","\u002Fterms\u002Frecession",1793374004702]