Both the production of goods and services and the unemployment rate are used to measure:

Question

Quizplus · Accepted Answer

The production of goods and services and the unemployment rate are both indicators of the business cycle, which refers to the fluctuations in economic activity over time. When production is high and unemployment is low, it is considered a period of expansion, whereas when production is low and unemployment is high, it is considered a period of contraction. Therefore, measuring these two factors can help indicate where the economy is in the business cycle.

Both the Production of Goods and Services and the Unemployment