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Is it time for US teachers to get a raise?

In his 2023 State of the Union address, President Joe Biden called for public school teachers to get a raise but offered no specifics on how that could be done. Here, Michael Addonizio, an education policy expert at Wayne ...

Why and when to help firms retain workers in a crisis

With short-time work programs, governments allow firms experiencing temporary demand or productivity shocks to reduce hours worked, while providing income support to their employees for the hours not worked. A new study finds ...

Trade agreements can ease the pain of a possible global recession

Uncertainty is bad for business; however, it can be mitigated by trade agreements which help countries become more resilient to economic shocks, according to a new University of California School of Global Policy and Strategy ...

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Recession

In economics, a recession is a general slowdown in economic activity over a sustained period of time, or a business cycle contraction. During recessions, many macroeconomic indicators vary in a similar way. Production as measured by Gross Domestic Product (GDP), employment, investment spending, capacity utilization, household incomes and business profits all fall during recessions.

Governments usually respond to recessions by adopting expansionary macroeconomic policies, such as increasing money supply, increasing government spending and decreasing taxation.

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