what is economic ressision and economic acession? how does it effect the economic status of the society?
plz clarify as i am intrested in economic and tried to learn these phenomenon from past 9 month, i havenot got any satisfactory answer yet.
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A significant decline in activity across the economy, lasting longer than a few months. It is visible in industrial production, employment, real income and wholesale-retail trade. The technical indicator of a recession is two consecutive quarters of negative economic growth as measured by a country's gross domestic product (GDP); although the National Bureau of Economic Research (NBER) does not necessarily need to see this occur to call a recession.
Don't know about economic acession Sorry....Wait for other Comments...
WHY DID THE ECONOMIC RECESSION WHICH STARTED FROM USA AFFECTED THE EMERGING SUPER POWERS LIKE INDIA, CHINA, GERMANY? AND WHY DID IT HAD LOW AFFECT ON DEVELOPING COUNTEY LIKE NEPAL, BANGLADESH, FRANCE? WHY DID IT HAVE NO EFFECT LIKE UNDERDEVELOPED COUNTRIES LIKE ZIMBAWE AND UGANDA?
IS IT BECAUSE OF THE EXTENT OF TRADE CONNECTION OF USA WITH THESE COUNTRIES?
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