Examlex
A price floor that sets the price of a good above market equilibrium will cause
Recessions
Periods of temporary economic decline during which trade and industrial activity are reduced, generally identified by a fall in GDP in two successive quarters.
Depressions
Extended periods of significant decline in economic activity across an economy, characterized by high unemployment, falling prices, and reduced levels of trade and investment.
Price Increases
Price increases refer to the rise in the cost or value of goods and services over time, often measured by inflation rates.
Depression
A prolonged period of significant decline in economic activity and employment, more severe than a recession, marked by long-term unemployment and financial distress.
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