A recession is defined as an economy that contracts for half a year, while a depression is defined as a prolonged recession.

Authors

• Person: Not available Organization: Nicolet College
  Systemic or “Macro” Factors that Affect Financial Thinking

Sources

• Systemic or “Macro” Factors that Affect Financial Thinking nicoletcollege.pressbooks.pub Nicolet College via serper

Referenced by nodes (2)

• depression concept
• recession concept