Depression
From MarketsWiki
An economic depression is often defined as a more severe version of a recession that is characterized by significant decline in gross domestic product (GDP).[1]
There is no precise dividing line recognized by economists to distinguish a recession from a depression, and policy makers since World War II have almost resisted describing their economic situation as a depression, preferring the softer sounding term "recession."[2]
Also See
References
- ↑ Dr. Econ: What Is The Difference Between A Recession And A Depression?. Federal Reserve Bank of San Francisco.
- ↑ Depression. Auburn University.
