Which of the following describes an economic boom?

An economic boom is characterized by increased production and employment, reflecting a robust and expanding economy. During this period, businesses experience higher demand for goods and services, leading to increased output and the need for more workers. This typically results in lower unemployment rates, as a greater number of individuals find jobs due to businesses expanding their operations to meet consumer demand.

When an economy is booming, consumer confidence usually rises, leading to more spending and investment. This positive cycle further contributes to the growth of GDP, establishing the foundation of an economic boom. The conditions described in the other options do not align with an economic boom; for instance, a decrease in GDP, high levels of unemployment, or low consumer spending all indicate a contracting economy rather than an expanding one.