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Definition of a recession

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What's your definition of a recession and give your reason why one may occur?

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Recession
What's your definition of a recession and give your reason why one may occur?

Recession is one of the phase of Business cycle. Business cycles are the cyclical movements in the economy. During an expansion, output and employment rises and unemployment falls. At this stage consumption increases. Peak is the highest form of expansion where there is a very high GDP growth and low unemployment. There may be furious rise in inflation due to rapid expansion and at peak situation. Consumption ...

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The response discusses the definition of a recession.

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