The First Continental Congress took place between September 5th<span>, </span>1774<span> and October 26</span>th<span>, </span>1774<span> in Philadelphia, Pennsylvania at Carpenter's Hall. It was a meeting between 12 of the 13 colonies' delegates, at an early stage of the American Revolution.</span>
Answer:
GDP declines, and unemployment rates rise because companies lay off workers to reduce costs. At the microeconomic level, firms experience declining margins during a recession. When revenue, whether from sales or investment, declines, firms look to cut their least-efficient activities.
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