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JF-Expert Member
- Feb 1, 2014
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Period of general economic decline defined as a contraction in GDP for over six months characterized by;
High unemployment
Stagnant wages
Fall in retail prices
NB: Recession does not normally last a year and is milder than depression.They are considered normal in the capitalist Economy
cc Dairus
High unemployment
Stagnant wages
Fall in retail prices
NB: Recession does not normally last a year and is milder than depression.They are considered normal in the capitalist Economy
cc Dairus