Question

This term is used to describe a downturn in economic production and employment, which results in declining incomes and spending. Such a downturn can result in a decline in business inventory, which then results in a decline in production and jobs. What is this term, which is used to describe the downturn in 2008 spurred by the decline in the housing market?

Answer 1

recession

Step-by-step explanation:

it is recession as it means an economic downturn when production, employment, and spending decrease. the 2008 recession was triggered by problems in the housing market.