Want this question answered?
Economists assert that economic recessions are actually beneficial to many homebuyers because both home prices and mortgage interest rates tend to be lowest during recession.
There is no universally recognized definition of 'recession.' Most (but not all) economists would agree that the current economic situation is at least a recession.
Economic recession is when the economy, as a whole, is actually shrinking (GDP shrinks, unemployment rises, as the demand for goods and services is lessened.)The opposite of an economic recession, is economic growth.Economic growth is when the economy is expanding, jobs are being created because of increased demand or stimulated demand.
== == == ==
Economic recesion - implications
Economists assert that economic recessions are actually beneficial to many homebuyers because both home prices and mortgage interest rates tend to be lowest during recession.
There is no universally recognized definition of 'recession.' Most (but not all) economists would agree that the current economic situation is at least a recession.
Economic recession is when the economy, as a whole, is actually shrinking (GDP shrinks, unemployment rises, as the demand for goods and services is lessened.)The opposite of an economic recession, is economic growth.Economic growth is when the economy is expanding, jobs are being created because of increased demand or stimulated demand.
economic recession
There is a divided opinion between the free market(or classical) economists and Keynesian economists in this argument The Free market economists argue that the government shouldn't have any role whatsoever in interefering with the market and should let the market continues on its normal business cycle. The Keynesian economoists would argue that the government has a role to "tame" the economic cycles (making less boom and also less recession). However, economic cycles are a natural occurance in any economic system and can't be destroyed (or doesn't yet has an example of an economic cycle being destroyed.) Most governments however do interefere with the market (an example would be huge stimulus packages by governments during the global recession of 2008-2009).
== == == ==
recession is the same to economic downturns as they both have exact economic phenomenon with few respects
recession
Economic recesion - implications
A recession is a modest downturn in the level of economic activity. Technically, this is indicated by two consecutive quarters of negative economic growth by the GDP.
A recession.
Yes.