Depression

What does it Mean? A severe and prolonged recession characterized by inefficient economic productivity, high unemployment and falling price levels.
Investopedia Says... In times of depression, consumers' confidence and investments decrease, causing the economy to shut down. The classic example of this occurred in the 1930s, when the Great Depression shook the global economy.

Terms Related Links

Black Thursday
Contraction
Deflation
Emergency Banking Act Of 1933
Great Depression

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