Will you help answering my personal finance class question?
Bpositive asked:
My teacher was discussing with my class about how the stock markets have dropped tremendously and wanted us to figure out what our country could enter if it continues. She also informed us that it had happened in the 1970’s. And its not depression. Is it resession?? Thank you so much!
Luther
My teacher was discussing with my class about how the stock markets have dropped tremendously and wanted us to figure out what our country could enter if it continues. She also informed us that it had happened in the 1970’s. And its not depression. Is it resession?? Thank you so much!
Luther
January 25th, 2009 at 1:50 am
yep, its recession – but we’re not there yet.
January 26th, 2009 at 1:50 am
Recession is the correct answer, but we are more likely to go through a period of slow growth. Recession is when the economy actually shrinks.
January 27th, 2009 at 5:23 pm
And see if your teacher has heard this one…
Q: What is the difference between a recession and a depression?
A: A recession is when your neighbor is out of work. A depression is when you are out of work!