Changes

[[File:lighterstill.jpg]][[File:Recession.jpg|right|frame]]

[[File:lighterstill.jpg]][[File:Recession.jpg|right|frame]]

*Date: circa [http://www.wikipedia.org/wiki/17th_Century 1652]

*Date: circa [https://www.wikipedia.org/wiki/17th_Century 1652]

==Definitions==

==Definitions==

*1 : the act or [[action]] of receding : withdrawal

*1 : the act or [[action]] of receding : withdrawal

*3 : a period of reduced [[economic]] activity

*3 : a period of reduced [[economic]] activity

==Description==

==Description==

In [[economics]], a '''recession''' is a [[business]] [[cycle]] contraction, a general slowdown in economic activity over a period of time. During recessions, many [http://en.wikipedia.org/wiki/Macroeconomics macroeconomic] indicators vary in a similar way. Production as measured by [http://en.wikipedia.org/wiki/Gross_Domestic_Product Gross Domestic Product] (GDP), employment, investment spending, [http://en.wikipedia.org/wiki/Capacity_utilization capacity utilization], household incomes, business profits and inflation all fall during recessions; while [http://en.wikipedia.org/wiki/Bankruptcy bankruptcies] and the [http://en.wikipedia.org/wiki/Unemployment_rate unemployment rate] rise.

In [[economics]], a '''recession''' is a [[business]] [[cycle]] contraction, a general slowdown in economic activity over a period of time. During recessions, many [https://en.wikipedia.org/wiki/Macroeconomics macroeconomic] indicators vary in a similar way. Production as measured by [https://en.wikipedia.org/wiki/Gross_Domestic_Product Gross Domestic Product] (GDP), employment, investment spending, [https://en.wikipedia.org/wiki/Capacity_utilization capacity utilization], household incomes, business profits and inflation all fall during recessions; while [https://en.wikipedia.org/wiki/Bankruptcy bankruptcies] and the [https://en.wikipedia.org/wiki/Unemployment_rate unemployment rate] rise.

Recessions are generally believed to be caused by a widespread drop in spending. Governments usually respond to recessions by adopting expansionary macroeconomic policies, such as increasing [[money]] s[http://en.wikipedia.org/wiki/Monetary_policy upply], increasing [http://en.wikipedia.org/wiki/Fiscal_policy government spending and decreasing taxation.][http://en.wikipedia.org/wiki/Recession]

Recessions are generally believed to be caused by a widespread drop in spending. Governments usually respond to recessions by adopting expansionary macroeconomic policies, such as increasing [[money]] s[https://en.wikipedia.org/wiki/Monetary_policy upply], increasing [https://en.wikipedia.org/wiki/Fiscal_policy government spending and decreasing taxation.][https://en.wikipedia.org/wiki/Recession]

[[Category: Economics]]

[[Category: Economics]]