Recession and Expansions - Short term economic fluctuations

8 important questions on Recession and Expansions - Short term economic fluctuations

What happens to the economy during a recession?

The economy experiences a slowdown, leading to job losses and decreased spending.

What occurs in the economy during an expansion?

The economy grows, resulting in increased jobs and rising production levels.

Do recession and expansion follow a fixed schedule?

These economic phases occur irregularly in timing and severity without a set schedule.
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Who gets affected by changes in the economy during contraction or expansion?

Contraction or expansion affects businesses, workers, households, and governments globally.

What was one significant global economic event in the 1930s?

The Great Depression is noted as a major economic event of the 1930s.

What were the years of the U.S. recession from 1973 to 1975?

The U.S. recession occurred from 1973 to 1975, marking significant economic decline.

When did the U.S. experience another recession in the early 1980s?

Another U.S. recession occurred from 1981 to 1982, impacting the economy significantly.

Which global economic crisis occurred from 2007 to 2009?

The Global Financial Crisis occurred, severely affecting economies worldwide during this period.

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