- Recession is defined as significant decline in economic activity/output spread across the country, lasting more than a few months, normally visible in real GDP growth, real personal income, employment, industrial production, and wholesale-retail sales
- Its usually preceded by server al quarters of slowing but positive growth. But when GDP growth slows down, businesses stop expanding, employment falls, unemployment rises, and housing prices decline
- Recession normally takes place when consumers lose confidence in the growth of the economy and spend less
- Its natural for countries to experience mild recessions, at is it a built-in/endogenous factor of a society
è Recession is not due to lack of productive capacity in the economy
è Real problem is due to insufficient spending to support the normal level of production
Recession is a natural result of the economic cycle and will adjust for changes in consumer spending and consumption or increasing and decreasing of goods and labor
- Its usually preceded by server al quarters of slowing but positive growth. But when GDP growth slows down, businesses stop expanding, employment falls, unemployment rises, and housing prices decline
- Recession normally takes place when consumers lose confidence in the growth of the economy and spend less
- Its natural for countries to experience mild recessions, at is it a built-in/endogenous factor of a society
è Recession is not due to lack of productive capacity in the economy
è Real problem is due to insufficient spending to support the normal level of production
Recession is a natural result of the economic cycle and will adjust for changes in consumer spending and consumption or increasing and decreasing of goods and labor
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