In a boom year,

Name: In a boom year,
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Question

In a boom year,

Quizplus · Accepted Answer

In a boom year, there is a high level of economic activity and an increase in demand for goods and services, which leads to an increase in aggregate demand. This can result in higher prices and potentially some inflation, but it also means that the economy is operating closer to its potential GDP. Unemployment would likely be low in a boom year because businesses may need more workers to meet the increased demand for their products or services.

In a Boom Year