An economic downturn, usually characterized by a fall in the gdp and rising unemployment, is called

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Business

Melvin Delgado

15 January, 10:46

An economic downturn, usually characterized by a fall in the gdp and rising unemployment, is called

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Adrienne Cantu · Answer 1

An economic downturn, usually characterized by a fall in the gross domestic product (GDP) and rising unemployment, is called recession. If the economy declines significantly for at least six months then recession is declared. This period is characterized with reduced trade and industrial activity.