What are 3 characteristics of a recession?
What are the characteristics of recession and depression?
What were the characteristics of the Great Recession?
What is defined as a recession?
What are the effects of a recession?
Recessions cause standard monetary and fiscal effects – credit availability tightens, and short-term interest rates tend to fall. As businesses seek to cut costs, unemployment rates increase. That, in turn, reduces consumption rates, which causes inflation rates to go down.