S E34: The Boom and Bust of Business Cycles
Think Like An Economist
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What Is a Recession?
A recession is a period of declining economic activity. Businesses just aren't selling as much as they once were, and that often means they have to cut their costs by cutting hours or even laying off workers. On average, the pendemics the most dramatic recession we've ever had. The korono viris recession was incredibly rapid and dramatic. We just put the brakes on the economy.
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