3 years ago

What is a prolonged economic contraction that is not especially long or severe called?'?

Social Studies

2 answers:

Mice21 [21]3 years ago

8 0

Answer:

recession

Explanation:

gizmo_the_mogwai [7]3 years ago

4 0

A prolonged economic contraction that is not especially long or severe is called recession.
When there is a significant decline in activity across the economy and this is lasting longer than a few months then we have recession.
Recession is characterized with the following:
drop in the following five economic indicators: real GDP, income, employment, manufacturing and retail sales.

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