Economic consequences refer to the effects or outcomes that occur as a result of specific economic events or policies. These consequences can include changes in employment rates, inflation, GDP growth, income distribution, and overall economic stability.
Related terms
Inflation: A general increase in prices resulting in a decrease in purchasing power of money.
Recession: A significant decline in economic activity characterized by reduced production, employment, and trade for an extended period.
Keynesian Economics: An economic theory that suggests government intervention through fiscal policy (such as spending) can help stabilize and stimulate the economy during periods of recession or low growth.