Economic Recession of 2007-2009
The Economic Recession of 2007 to 2009
Recessions are a normal part of the business cycle, which constitutes of recurring expansion and contraction of the overall economic cycle associated with changes in employment, income, prices, sales and profits. A business cycle consists of four phases, which include peak, recession, trough, and expansion. Once an economy reaches the peak, which is the maximum point of economic growth, it contracts and initiates a period...
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