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miv72 [106K]
3 years ago
9

In economics, what is the difference between a recession and a depression?

History
2 answers:
aliya0001 [1]3 years ago
7 0

Answer:

D) Recessions are economic contractions that last 6 months or longer, while depressions are particularly severe economic contractions with no specified time frame.



Explanation:

bazaltina [42]3 years ago
6 0

The correct answer is D) Recessions are economic contractions that last 6 months or longer, while depressions are particularly severe economic contractions with no specified time frame.

<em>In economics, the difference between a recession and a depression is that recessions are economic contractions that last 6 months or longer, while depressions are particularly severe economic contractions with no specified time frame.</em>

When a country stops its economic growth, it is said that its economy is in a recession. This means that economy is passing a period of contraction that can last approximately six months or more. A Depression is a more complex situation. This means that the economy of a country not only is not growing but is decreasing. This means that the economy is passing a period of a severe economic contraction that can last more time than a recession. For example, the Great Depression of October 1929, as a consequence of the stock market crash. It ended until 1939.

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