how does a recession and depression differ?

Question

hoblos · Answer

is this MATHEMATICS !!!

anonymous · Answer

sort of !

jagatuba · Answer

Depends on who you ask: A depression is any economic downturn where real GDP declines by more than 10 percent. A recession is an economic downturn that is less severe.

Sometimes a recession is defined as a decline in the Gross Domestic Product (GDP) for two or more consecutive quarters.

anonymous · Answer

hey,i was asking this with regard to keynesian economics

anonymous · Answer

what is stagflation

jagatuba · Answer

Stagflation is a combination of the words stagnant (slow or unmoving) and inflation (increase in the cost of goods and services). So stagflation is when cost are increasing but economic growth is not. It can also be describe to be when costs are increasing,and the unemployment rate is high.

anonymous · Answer

thanks jagatuba

jagatuba · Answer

I don't know much about keynesian economics, but I don't think the way that recession and depression are define are any different. The only difference may be that keynesian economics considers other factors in addition to GDP movement, such as unemployment levels and inflation rates, but I can't swear on that.