Inflation, stagflation, recession, depression, expansion, and contraction are commonly used terms in economics and the media. What do these terms mean and how are some of these terms related?© BrainMass Inc. brainmass.com October 10, 2019, 1:54 am ad1c9bdddf
Inflation- increase of price level in an economic over a period of time
stagflation - the situation where both inflation and unemployment rate is high
recession - a period of the business cycle where there is a slowdown of economic activity.
depression - an extreme case of recession that lasts for ...
Explain inflation, stagflation, recession, depression, expansion, and contraction