What Is the Difference Between a Recession and a Depression

question 21

Multiple Choice

What is the difference between a recession and a depression?

• A)A depression is a short-term decrease in economic growth,while a recession lasts several quarters or even years.
• B)Recessions can only occur in developed countries,as lesser developed countries lack the institutions that make recessions possible; depressions can occur in any country.
• C)Depressions are long-term downturns in the business cycle leading to a variety of economic problems,while recessions are merely declines in economic growth and activity.
• D)Recessions are predictable,while depressions usually do not offer any warning.

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Definitions:

Navajos

are a Native American people of the Southwestern United States, known for their rich cultural traditions, art, especially weaving, and their history of resilience and sovereignty.

Union Troops

Soldiers who fought for the Northern states during the American Civil War.

New Mexico Territory

The New Mexico Territory was an organized incorporated territory of the United States that existed from 1850 until 1912, when the remaining portion of the territory was admitted as the state of New Mexico.

Union Forces

The army and military resources of the United States (the North) during the American Civil War, battling against the seceding Confederate states.