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What best explains what happens when unemployment increases during a recession?
The recession worsens into a depression.
Why would a government choose to spend more money than it collects in taxes during a recession or a depression?
Spending increases demand and can encourage economic growth.
Why is there a decrease in production during a recession?
During a recession, there is a decrease in production because there is lower demand for goods and services. This leads to businesses producing less in order to match the reduced demand, which can result in layoffs and reduced economic activity.
What following goods will least likely suffer a decline in demand during a recession?
toothpaste
Define recession recovery and expansion?
Recession- A significant decline in activity regarding the economy. A recession usually declines such matters as employment, industrial production, real income, and wholesale-retail trade. A recession is measured in two consecutive terms of negative economic growth by the country's gross domestic product. Recovery- The period, after a recession, of growth due primarily to the utilization of economic capacity which became idle during the recession. Expansion- The period of economic growth after a recovery in which the increase of GDP is due to increases of productivity and addition of new economic capacity, rather than utilization of idle capacity.
What best explains what happens when unemployment increases during a recession?
The recession worsens into a depression.
Why is there a decrease in production during a recession?
in demand and proudction
Why would a government choose to spend more money than it collects in taxes during a recession or a depression?
Spending increases demand and can encourage economic growth.
What of the following happens when unemployment increases during a recession?
There´s a depression
Why is there a decrease in production during a recession?
During a recession, there is a decrease in production because there is lower demand for goods and services. This leads to businesses producing less in order to match the reduced demand, which can result in layoffs and reduced economic activity.
What following goods will least likely suffer a decline in demand during a recession?
toothpaste
Has overall employment been rising or falling during the most recent year?
falling because of the recession
Define recession recovery and expansion?
Recession- A significant decline in activity regarding the economy. A recession usually declines such matters as employment, industrial production, real income, and wholesale-retail trade. A recession is measured in two consecutive terms of negative economic growth by the country's gross domestic product. Recovery- The period, after a recession, of growth due primarily to the utilization of economic capacity which became idle during the recession. Expansion- The period of economic growth after a recovery in which the increase of GDP is due to increases of productivity and addition of new economic capacity, rather than utilization of idle capacity.
What is the stage that follows a recession or depression?
The stage that follows a recession or depression is a recovery period. During this stage, the economy starts to show signs of improvement as businesses begin to grow, consumer confidence increases, and overall economic activity picks up. This period is characterized by rising employment rates and an uptick in GDP.
In his book the general theory of employment interest and money what was keynes created with?
creating and shaping modern macroeconomics
How does the inflation rate typically behave during a recession?
During a recession, the inflation rate typically decreases or remains low. This is because reduced consumer demand and economic activity lead to lower prices and less pressure on prices to rise.
How level of employment changes in secondary sector?
The level of employment in the secondary sector, which includes manufacturing and construction, can fluctuate due to various factors such as technological advancements, economic conditions, and shifts in consumer demand. During economic growth, employment in this sector often increases as production ramps up to meet demand. Conversely, during recessions, job losses may occur due to automation, outsourcing, or reduced consumer spending. Additionally, a growing emphasis on sustainability and green technologies may reshape employment patterns within the secondary sector.
