Identify one country (other than the US) that was impacted by the Great Recession. Describe their...
Identify one country (other than the US) that was impacted by the Great Recession.
Describe their economic challenges during and after the Great Recession.
Homework Answers
Answer:- There are many countries, that were impacted by the great recession. One of the example is Japan.
Economic challenges during and after the time of great
depression were:-
1. Excessive debts:- Due to the great depression the supply and
demand of goods and services reduced in the economies, thereby,
reducing the money supply in the economy. This forced the countries
to borrow money for the survival.
2. Income differences:- The rise in excessive debts during great
depression increased the income inequalities in the country.
3. Speculation:- speculation activities increased as the demand for
money increased.
4. Due to the decreased money supply in the economy, the money
value of assets decreased.
5. The banks in various economics collapsed as a result of
recession.
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