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madreJ [45]
3 years ago
14

Describe what happens when the economy expands. What are the results when an economy retracts? How is a recession defined? EXAMP

LE IN SENTENCE and plz don't give links cause they really don't work plz and thank all of y'all
Social Studies
1 answer:
Sati [7]3 years ago
4 0

Answer:

1. when an economy expands, there is generally a period of prosperity and growth, see in a trend of business, increase in population, and employment, which in turn increases the incomes of households. Example: high GDP, increased unemployment, income growth.

2. Drop in household incomes, decreased per capita income, higher rates of unemployment, the likelihood of a recession.

3. It is defined as a sustained, significant period of weak growth in GDP, economic decline, and soaring unemployment rate.

Explanation:

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