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A single dip recession is when an economy goes into a prolonged weakness (typically defined as 2 more quarters of negative growth in the Gross Dometic Product or GDP). This trend, at some point, reverses itself and the economy begins to expand again. A double dip recession occurs when, as the economy begins to grow again from the first dip, some unfortunate event (like September 11, 2001) occurs, causing the economy to contract for the second time.
| 12 years ago. Rating: 2 | |
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