A period of economic activity when income,production,and employment tend to fall,reducing overall demand,is called:

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A period of economic activity when income, production, and employment tend to fall, reducing overall demand is called a recession. Stagnation refers to a period of little or no economic growth, while inflation refers to a sustained increase in the general level of prices. Price escalation refers to an increase in the price of a particular good or service, while a depression is a severe and prolonged period of economic decline.

A Period of Economic Activity When Income,production,and Employment Tend to Fall,reducing