Macroeconomics- Depression

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  • This newspaper says Great Depression. I wonder what that means?
  • Well, the great depression was during the 1930s when there was high unemployment and other bad things.
  • Thank you! Now I can go tell my class what I learned!
  • The Great Depression was a time in the 1930s. A depression is a lengthy recession that lasts a little over 2 years.
  • Some characteristics of a depression include; high unemployment, little credit, low output, reduced trade/commerce, and defaults on debt.
  • As a result consumer confidence drops and the economy shuts down with no spending; just investment.
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