Related to the Economics in Practice on p.695: The trade feedback effect between developed economies was quite apparent during the recession of 2008-2009.

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Quizplus · Accepted Answer

The trade feedback effect between developed economies was indeed apparent during the recession of 2008-2009. As demand for goods and services declined, countries that heavily relied on exports to other developed economies experienced a significant drop in their own economic growth, leading to a further reduction in demand for imports from other developed countries. This created a trade feedback loop that exacerbated the recession.

Related to the Economics in Practice on P