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date: 03 December 2021

Depressions, Economic. 

Source:
The Oxford Companion to United States History
Author(s):
Diane LindstromDiane Lindstrom

Depressions are sustained troughs in the business cycle characterized by declines in output, employment, income, and trade. Their spreading effects can be traced through declining prices, profits, interest rates, wages, consumer spending, and capital investment. Depressions date from the earliest years of American history, but the paucity of data precludes evaluation of them in the ... ...

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