Question

A relatively mild period of falling incomes and rising unemployment is called a(n)?

Answer 1

A relatively mild period of falling incomes and rising unemployment is called a recession.

What is recession?

• A recession is a significant, widespread, and prolonged downturn in economic activity.
• Because recessions often last six months or more, one popular rule of thumb is that two consecutive quarters of decline in a country's Gross Domestic Product (GDP) constitute a recession.
• Recessions typically produce declines in economic output, consumer demand, and employment.
• A recession is a significant, pervasive, and persistent decline in economic activity.
• Economists measure a recession's length from the prior expansion's peak to the downturn's trough.
• Recessions may last as little as a few months, while the economic recovery to the former peak can take years.
• An inverted yield curve has predicted the last 10 recessions, along with a couple that never materialized.
• Unemployment often remains high well into an economic recovery, so the early stages of a rebound can feel like a continuing recession for many.
• Countries around the world use fiscal and monetary policies to limit the risks of a recession.

To know more about recession, refer:

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