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Samuelson Essay Topics & Paper Examples

Great Depression

Depression is a deep, extended slump in total business activity. Buying and selling drop during a depression. This causes a decline in production, prices, income and employment. Money becomes scarce. Many businesses fail, and many workers lose their jobs. A depression can hit an industry, a region, a nation of the world (Coy 32; Smitha 89; Eleanor Roosevelt National Historic Site NP). A depression might develop if sales drop in a number of stores. Because of the fall in sales, the stores order less merchandise from manufacturers, in turn, lower production, cut orders from suppliers, and invests less money in new equipment and factories. As sales drop, prices tend to fail, further reducing business income. Employers lay off workers as…