By Emel Akan Monica Lomax, a 59-year-old resident of Elkridge, Maryland, has been feeling the pinch of rising costs. She’s had to tighten her budget, especially for groceries and clothing. Now, her shopping trips are primarily for essentials, a necessary adjustment in her life to manage the financial squeeze. “I was thinking about purchasing or […]
Tag: Economic Recession
In economics, a recession is a business cycle contraction when there is a general decline in economic activity. Recessions generally occur when there is a widespread drop in spending.