Business cycle accounting

Business Cycle Accounting is like a game of hide-and-seek. The idea is that people go through economic booms (when business activity is high) and busts (when business activity is low). During these times, the amount of money people are making, buying and investing changes. Business Cycle Accounting is a way of tracking all those changes, so that we can tell when an economy is doing better or worse. It's like trying to find a hidden object -- economists are looking for patterns in the numbers that give clues about how well an economy is doing. This helps us figure out how to make it better.