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An economic contraction refers to a decline in national output, typically measured by a decrease in Gross Domestic Product (GDP) over two consecutive quarters. This downturn can result from various factors, including decreased consumer spending, reduced business investment, or external shocks to the economy. During an economic contraction, unemployment often rises, and businesses may experience lower revenues, leading to a slowdown in economic activity. Ultimately, it signifies a period of economic distress and can precede a recession if it persists.
What else can I help you with?
A prolonged economic contraction is a.?
A recession....
A prolonged economic contraction known as a?
recession
What is the lowest point in an economic contraction is called what?
Trough.
What is a prolonged economic contraction that is not especially long or severe called?
A recession
What marks the end of an economic contraction after which the business cycle usually starts over?
That one phase
A prolonged economic contraction is a.?
A recession....
A prolonged economic contraction known as a?
recession
What is the lowest point in an economic contraction is called what?
Trough.
What is prolonged economic contraction that is not especially long or severe?
A recession
Which part of the business cycle did the Great Depression represent?
Economic Contraction
What historical event is an example of economic contraction in the US?
the Great Depression
What is prolonged economic contraction that is not especially long or severe called?
A recession
What is a prolonged economic contraction that is not especially long or severe called?
A recession
Contraction (business cycle)?
economic growth weakens and becomes a recession
What is the difference between contraction and expansion?
Contraction refers to a decrease in size or volume, while expansion refers to an increase in size or volume. In the context of economics, contraction can refer to a decrease in economic activity like during a recession, while expansion refers to a period of economic growth.
What is businesses cycle?
Answer is: [A recurring cycle of booms and busts, recoveries and recessions] (Go Apex Kids;)Business cycle (trade cycle) refers to the fluctuations in economic activities due to the changes in the economic variables like employment, income, output, prices etc.The definition of a business cycle is " a cycle or series of cycles of economic expansion and contraction."a period of economic growth followed by economic contraction (gp)
What marks the end of an economic contraction after which the business cycle usually starts over?
That one phase
