Final answer:
A severe recession may turn into a depression depending on the duration and severity of the economic decline.
Step-by-step explanation:
A severe recession may turn into a depression. A recession is a significant decline in income and employment, while a depression is a prolonged period of economic recession marked by a significant decline in income and employment.
Depressions are typically characterized by more severe and longer-lasting economic decline than recessions.
For example, the Great Depression of the 1930s was a severe economic depression that lasted for several years and resulted in a significant decline in economic output. Similarly, the 2008-2009 Great Recession was a severe recession that had a significant impact on the global economy.
In summary, a severe recession can potentially turn into a depression, depending on the duration and severity of the economic decline.