A depression is a
A) recession combined with hyperinflation.
B) period of decreasing unemployment and decreasing price levels.
C) period of economic growth which is offset by stagflation.
D) prolonged and deep recession.

Question

Quizplus · Accepted Answer

A depression is a prolonged and deep recession characterized by high rates of unemployment, reduced economic activity, low consumer confidence, and a decline in overall economic output. It is a severe and long-lasting economic downturn that can last for several years, with significant negative effects on businesses, individuals, and society as a whole.

A Depression Is a