2.4 The Business Cycle
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All economies experience periods of boom and bust. Some periods are extreme. Some are less so.
2017 saw record high debt levels in Canada, as well as the lowest unemployment rates in 40 years. Albertans had the highest average debt load in the country, and the fifth highest unemployment rate of the ten provinces. These are reactions to the business cycle. The business cycle represents the pattern of economic ups and downs that occur over time.
2017 saw record high debt levels in Canada, as well as the lowest unemployment rates in 40 years. Albertans had the highest average debt load in the country, and the fifth highest unemployment rate of the ten provinces. These are reactions to the business cycle. The business cycle represents the pattern of economic ups and downs that occur over time.