Y Not Wealth

Tag: economics

  • Understanding Recession: Causes and Effects

    Understanding Recession: Causes and Effects

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    by

    Antonio Vargas
    in

    A recession is a significant, widespread, and prolonged downturn in economic activity. It is characterized by a decline in production and employment. This decline causes the incomes and spending of households to decrease. In the United States, the National Bureau of Economic Research (NBER) defines a recession. It is described as a period of negative…