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 ?
Darjeeling (Assam) [India], June 26 ( ANI ): As the indefinite shutdown in Darjeeling entered its 11th day on Monday, the Gorkhas expressed their dejection over doubts being raised about their nationality.
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.
Noticing the numbers ebb and flow can't help but make your heart sink in dejection, though it certainly is useful for a writer to become more used to rejection.
* DEJECTION: Scott Waites after his defeat against Ted Hankey
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.
leaving only dejection under your brittle strands, each time at
Rather than discuss his future, Hodgson merely indicated his feelings of "dejection, bitter disappointment, frustration" at the result.
Dejection and Joy smoke the peace pipe and take up residence in adjacent
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.