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Sagot :
A debt crisis in one country can, and frequently does, cause economic suffering in other countries, whether in the private sector or the government. A tightening of financial circumstances, such as an increase in interest rates, a slowdown in trade and economic growth, or even just a sharp drop in confidence, might cause this.
What is economic crisis ?
- It is a point in the economic cycle when an economy experiences long-term challenges.
- A sharp downturn in the nation's economic performance is evident in falling output and demand, rising unemployment, and corporate bankruptcies.
- This will inevitably result in a significant level of poverty throughout the nation.
What is economic growth?
- A society's ability to generate and consume more and better economic goods and services is known as economic growth.
- Even if the definition of economic growth is simple, measuring it is really challenging.
- It's crucial to remember that growth is not defined by increases in household income or inflation-adjusted GDP; similarly, life expectancy is a metric of population health but is by no means the definition of population health.
Learn more about economic crisis here:
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