2 years ago

What is an economy considered to be in a recession

1 answer:

7 0

Answer:

A recession is a period of economic contraction, where businesses see less demand and begin to lose money. To cut costs and stem losses, companies begin laying off workers, generating higher levels of unemployment.

Factors that cause a recession include high interest rates, reduced consumer confidence, and reduced real wages. Effects of a recession include a slump in the stock market, an increase in unemployment, and increases in the national debt.

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