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2 May, 21:06

Which of the following is widely accepted as a definition of economic depression?

a long period of high budget deficits

a long period of negative economic growth

a period where employment rates rise sharply

a period where industries are disrupted by competition

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Answers (2)
  1. 2 May, 21:55
    0
    a long period of negative economic growth

    Explanation: just got it right.
  2. 2 May, 23:20
    0
    A long period of high budget deficits

    Explanation:

    In times of depression, consumer confidence and investments decrease, causing the economy to shut down. Economic factors that characterize a depression include:

    -Substantial increases in unemployment

    -A drop in available credit

    -Diminishing output

    -Bankruptcies

    -Sovereign debt defaults

    -Reduced trade and commerce

    -Sustained volatility in currency values
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