what is a recession?

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what is a recession?

2007-09-19 16:04:03 · 2 answers · asked by Tom M 1 in Business & Finance ➔ Corporations

2 answers

A recession is defined as a period of two consecutive quarters of decline in real GDP. The National Bureau of Economic Research, a private organization, effectively decides when recessions occur. GDP is the total market value of all final goods and services produced in a country in a given year, equal to total consumer, investment and government spending, plus the value of exports, minus the value of imports.

2007-09-19 17:02:59 · answer #1 · answered by Sandy 7 · 0⤊ 0⤋

a contraction of the economy, i.e. less jobs less money

2007-09-19 16:21:01 · answer #2 · answered by ? ? 2 · 0⤊ 0⤋