Difference between revisions of "Recession"
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Latest revision as of 11:35, 12 July 2020
Recession is a significant decline in national output.
Definition
According to Principles of Economics by Timothy Taylor (3rd edition),
- Recession. A significant decline in national output.
According to Macroeconomics by Mankiw (7th edition),
- Recession. A sustained period of falling real income.
According to the Strategic Management by Parnell (4th edition),
- Recession. A decline in a nation's GDP for two or more consecutive quarters.
