Depression (redirected from pacchionian depressions)

Depression

A severe and prolonged recession characterized by inefficient economic productivity, high unemployment, and falling price levels.

Notes:

In times of depression, consumer's confidence and investments decrease, causing the economy to shutdown. The classical example of this occurred in the 1930s the Great Depression affected the global economy.

See also: Contraction, Deflation, Emergency Banking Act of 1933

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Depression

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