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Which part of the business cycle did the Great Depression represent?
Economic Contraction
What are the two main phases of a business cycle?
contraction and expansion.
What part of the business cycle contributes to a depression?
Consumers begin buying more and companies increase production
What is a period of temporary business reduction shorter and less extreme then a depression called?
A period of temporary business reduction that is shorter and less severe than a depression is called a recession. Recessions typically involve a decline in economic activity, characterized by falling GDP, rising unemployment, and decreased consumer spending. Unlike a depression, which is prolonged and deeply damaging, a recession is often seen as a natural part of the economic cycle and can be followed by recovery.
What social and psychological impact did the depression have on Americans?
The depression was devastating to people, it caused a lack of food, shelter, and clothing and a metal depression in most.
What are the components of business cycle?
The components of the business cycle is Prosperity, Recession, and depression.
In what phase of the business cycle would there be more personal bankruptcies?
depression
Which part of the business cycle did the Great Depression represent?
Economic Contraction
The business cycle goes from boom to recession to and back to boom.?
Depression.
What is it called when business activity slows prices and wages drop and unemployment rises?
the business cycle
What are the two main phases of a business cycle?
contraction and expansion.
The business cycle goes from boom to recession to?
A recurring cycle of booms and busts, recoveries and recessions ere...
In the business cycle the period from 1929 to 1939 represents a period of?
Depression (Nova Net)
Put the phases of the business cycle in the correct order in which they follow a recession?
Depression Recovery Boom Recession
What part of the business cycle contributes to a depression?
Consumers begin buying more and companies increase production
Why did President Hoover responded cautiously to the Great Depression?
He thought the business cycle would correct itself.
Put the phases of the business cycle in the correct order in which they follow a recession.?
Depression Recovery Boom Recession
