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 ?
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.
And it was almost a day of utter dejection for Serbia as Ana Ivanovic, the top seed in the women's singles, also came within one point of defeat before fighting back to beat Nathalie Dechy.
Emotionally too it creates unbearable pain and dejection.
She describes growing up in a household where the human body, in various disguises of dejection and exaltation, was a primary theme in devotional and medical imagery.
Angst writhes through her tone, along with dejection, rejection, frustration and humiliation.
Odom was the picture of dejection after the Lakers' 114-108 loss to the Utah Jazz, a game in which coach Phil Jackson told his players afterward they had nothing to be ashamed about, even if one of them didn't agree.
Such solicitude toward the troops hints at an odd conception of the military man--as if he's a frail creature, quick to dejection.
The constituent parts, despite or perhaps because of their tacky glamour, evince the kind of dejection that comes with abandonment--the work transcends its parts and conveys the mannered grief of a Victorian memento mori.
His ancient journey and struggle against violent invaders and lawlessness leads him through chaos in search of the cause of his dejection and a quest for meaning and dedication.
Helen states that the mood of the audience is 'most aptly reflected in Paul Wills' flat black set' however I certainly did not find this the case and did not notice any dejection in my fellow audience members.
The dejection on Lennie Lawrence's face after we beat them didn't look as if Cardiff had no interest in the competition.
He deprived His most sacred humanity of the strength bestowed on it by His Divine Person, submitting it to indefinable sadness, extreme weakness, to dejection and abandonment, to mortal anguish.