Recession
A big, widespread drop in economic activity that lasts more than a few months.
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Related words
- GDP
- Gross domestic product: the total value of the goods and services a country produces. It's the main measure of how big an economy is.
- Unemployment rate
- The share of people who want a job and are looking for one but don't have one.
- Inflation
- When prices rise across the economy, so each dollar buys a little less.
- Federal Reserve
- The U.S. central bank, often called the Fed. It raises or lowers a key interest rate to keep prices stable and jobs plentiful.
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