Parkin and Bade's text Economics gives the following definition of the business cycle:
在帕金和巴德的经济学教材中,对商业周期给出了以下定义:
"The business cycle is the periodic but irregular up-and-down movements in economic activity, measured by fluctuations in real GDP and other macroeconomic variables."
“商业周期是经济活动的周期性但不规则的上下波动,以实际GDP和其他宏观经济变量的波动来衡量。”
To put it simply, the business cycle is defined as the real fluctuations in economic activity and gross domestic product (GDP) over a period of time. The fact that the economy experiences these ups-and-downs in activity should be no surprise. In fact, all modern industrial economies like that of the United States endure considerable swings in economic activity over time.
简单地说,商业周期是指经济活动和国内生产总值在一段时间内的实际波动。经济在活动中经历这些起起落落的事实不足为奇。事实上,所有像美国那样的现代工业经济体,随着时间的推移,经济活动都会出现相当大的波动。
The ups may be marked by indicators like high growth and low unemployment while the downs are generally defined by low or stagnant growth and high unemployment. Given its relationship to the phases of the business cycle, unemployment is but one of the various economic indicators used to measure economic activity. For most detailed information about how various economic indicators and their relationship to the business cycle, check out A Beginner's Guide to Economic Indicators.
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