An economy is defined as being in a recession if it contracts for half a year, and a prolonged recession is defined as a depression.

Authors

• Person: Not available Organization: LibreTexts
  1.3: Systemic or "Macro" Factors That Affect Financial Thinking

Sources

• 1.3: Systemic or "Macro" Factors That Affect Financial Thinking biz.libretexts.org LibreTexts via serper

Referenced by nodes (2)

• depression concept
• recession concept