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Economics
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What is the distinction between a RECESSION and a DEPRESSION? The decline between 2008 and 2010 - was that a recession or a depression?

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Chika Ilonah
Chika IlonahLv10
28 Sep 2019

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Related questions

After September 11, 2001, there was much talk that the United States was going to go into a depression. There was, in fact, a downturn in the economy that was considered by many to be a recession. A depression did not occur. Why is another depression like the Great Depression of the 1930s not likely to occur? What laws, or groups in our economy, are responsible for keeping us out of a depression?

After September 11, 2001, there was much talk that the United States was going to go into a depression. There was, in fact, a downturn in the economy that was considered by many to be a recession. A depression did not occur.

Why is another depression like the Great Depression of the 1930s not likely to occur?

What laws, or groups in our economy, are responsible for keeping us out of a depression?

Short-run fluctuations (recession, expansions, etc.) can affect things other than just economic characteristics. Provide some examples of how a recession or expansion has a broader influence on things like society and culture. (hint: think about the Great Depression, the Great Recession of 2009, or the 1990s boom).

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