Difference between revisions of "Recession"

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(Created page with "Recession is a significant decline in national output. ==Definition== According to Principles of Economics by Timothy Taylor (3rd edition), :Recession. A signific...")
 
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According to [[Principles of Economics by Timothy Taylor (3rd edition)]],
 
According to [[Principles of Economics by Timothy Taylor (3rd edition)]],
 
:[[Recession]]. A significant decline in national output.
 
:[[Recession]]. A significant decline in national output.
 +
According to [[Macroeconomics by Mankiw (7th edition)]],
 +
:[[Real money balances]]. The quantity of money expressed in terms of the quantity of goods and services it can buy; the quantity of money divided by the price level (M/P).
  
  
 
[[Category: Economics]][[Category: Articles]]
 
[[Category: Economics]][[Category: Articles]]

Revision as of 18:47, 2 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),

Real money balances. The quantity of money expressed in terms of the quantity of goods and services it can buy; the quantity of money divided by the price level (M/P).