The Unemployment rate for May just dropped to a historically low 3.8%, its lowest since 1969! This is great news, or is it? The business cycle phenomenon is an interesting short run economic proposition that posits that modern economies go through bouts of growth and stagnation explainable by alternative theories. Real GDP grows positively over some time period hits a peak in economic activity and then starts to experience negative growth, hits a trough, and repeats. What is