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22 January, 09:18

What are key economic variables that economists use to predict a new phase of a business cycle referred to as?

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  1. 22 January, 09:41
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    Although there is no general consensus on the number and denomination of phases, it can be said that these are: recession, depression, recovery and boom.

    There are two economic key variables used to determinate a phase which are:

    GDP: Is the value of the final goods, the result of multiplying the quantity produced by the price.

    Inflation: Is a macroeconomic variable that indicates the generalized increase in prices, both on goods and services, in a given period of time, usually one year.
  2. 22 January, 12:25
    0
    They are called leading indicators.
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