A key difference between recessions and depressions is that recessions are:
A)longer than depressions.
B)more severe than depressions.
C)accompanied by price increases,while depressions are accompanied by price decreases.
D)shorter and less severe than depressions.
E)accompanied by price decreases,while depressions are accompanied by price increases.

Question

Quizplus · Accepted Answer

Recessions are typically shorter and less severe than depressions. Depressions are characterized by prolonged periods of economic downturns, high unemployment rates, and significant decreases in GDP, while recessions are milder and shorter periods of economic contraction. Additionally, recessions are typically accompanied by decreases in prices (deflation), while depressions are usually accompanied by increases in prices (inflation).

A Key Difference Between Recessions and Depressions Is That Recessions