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Paper Topic:

Recession and Depression

DEPRESSION AND RECESSION

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Depression and recession are terms used to define the economic hardships of a state or a country but they have different meanings based on the economic arguments . Depression can be defined as the economic decline taking place in a large duration of time , in this case the economic decline leads to a ten percentage gross domestic product consequently depression can be regarded as a recession that lasts longer and its profound effects are high in business field for example the

br economic decline of 1930 .On the other hand recession can be defined as a small period of economic decline for example the economic decline which took place in 1910 and 1930 , consequently the recession effect is less compared to the depression effect which is so severe . At the same time recession can be regarded as the period when the business activities climbs to the top of the economic graph , but unfortunately starts to decceralate , until the period when the business activities comes to the base of the economic graph (Siegel , 2002

Although some measures has been put in place by the Federal government of the United States of America to prevent the chances of depression and recession from taking place , some of the economic analyst predicts that there are chances of depression and recession taking shape in the United States of America .Barro and Ursua ,Harvard University professors during their argument which was posted in the National Bureau of Economic Research last...

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