Examlex
Describe the types of activities and taxpayers that are subject to the at-risk rules.
Economy
The system by which goods and services are produced, distributed, and consumed within a society or area.
Depression of the 1930s
A severe worldwide economic downturn that lasted throughout the 1930s, marked by significant declines in industrial production, widespread unemployment, and deflation.
Recession
A temporary stage of economic depletion, highlighted by a downturn in trade and industrial action, normally identified by a GDP reduction in two back-to-back quarters.
Stagflation
A situation in the economy where inflation and unemployment rates are high simultaneously, leading to slow economic growth.
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