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What is a recession vs depression? In this video, we'll be talking about the difference between a recession and a depression. Let's start with the basics. First, let's start with the definition of each term. A recession is defined as an economic downturn that lasts more than two quarters. It's usually caused by an external shock to the economy, like rising oil prices or a natural disaster. A depression is any severe period of high unemployment and low business activity—it's also known as a "
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