Depression

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Depression

Period when excess aggregate supply overwhelms aggregate demand, resulting in falling prices, unemployment problems, and economic contraction.

Depression

A particularly long and/or deep recession. While there is no technical definition of a depression, conventionally it is defined as a period featuring severe declines in productivity and investment and particularly high unemployment. During the Great Depression, for example, GDP in the United States dropped 12% between 1929 and 1930 and a further 16% the following year. Likewise, unemployment rose to more than 25% nationwide and higher in some places.

Depression.

A depression is a severe and prolonged downturn in the economy. Prices fall, reducing purchasing power. There tends to be high unemployment, lower productivity, shrinking wages, and general economic pessimism.

Since the Great Depression following the stock market crash of 1929, the governments and central banks of industrialized countries have carefully monitored their economies. They adjust their economic policies to try to prevent another financial crisis of this magnitude.

depression

see BUSINESS CYCLE.

depression

a phase of the BUSINESS CYCLE characterized by a severe decline (slump) in the level of economic activity (ACTUAL GROSS NATIONAL PRODUCT). Real output and INVESTMENT are at very low levels and there is a high rate of UNEMPLOYMENT. A depression is caused mainly by a fall in AGGREGATE DEMAND and can be reversed provided that the authorities evoke expansionary FISCAL POLICY and MONETARY POLICY. See DEFLATIONARY GAP, DEMAND MANAGEMENT.
References in periodicals archive ?
Rangers broke the deadlock in the first minute of extra time when Rugby conceded a penalty and Quinn drilled the spot kick home to the delight of their fans and the dejection of the Valley supporters.
For celebration and dejection, triumph and despair, to be beamed into living rooms.
Some of the people who had little inkling about the distress among the hospital staffers, however, expressed their dejection and tribulation as they had come from far off areas to the tertiary care centre.
Exile had everything - the tension of family secrets, the scandal of institutional corruption, the horror of sexual abuse, the desperation of Alzheimers, the dejection of redundancy.
The throbbing sense of energy of single Anxiety is a promising torchbearer for an album that draws in unsettling vibrancy, morose dejection and unpure white noise.
The 23-year-old's dejection at losing to Rafael Nadal in the Wimbledon semi-finals was clear for all to see as he sat tearfully in his chair while his opponent celebrated his passage through to today's final, where he will face Tomas Berdych.
The "city of the big shoulders" was understandably a bit stooped with dejection Friday after its bid to host the 2016 Summer Olympics got rejected.
Villa chiller: Ashley Young shows his dejection at the final whistle.
LEE Byrne has spoken of his dejection after a thumb injury ended his Lions tour yesterday.
However mother-in-law of the deceased said her daughter-in-law might have committed suicide due to dejection as her parents had severed ties with her.
Congressional approval of the government's so-called "financial rescue plan" did little to lift the financial markets from their growing dejection over the obstacles still facing the economy.