Many economists describe the 2007-2009 period in the United States as being a condition of a(n)

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A recessionary gap is a situation where actual output is below potential output, leading to high unemployment and low economic growth. This was the case during the 2007-2009 period in the United States, also known as the Great Recession, where there were significant job losses and a contraction of the economy.

Many Economists Describe the 2007-2009 Period in the United States