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How do the Great Recession and the 2020 pandemic in the economy compare?

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The similarity between the Great Recession and the 2020 pandemic on the economy is that its disrupted the economic supply which leads to inflation and rapid employment rate.

What was the Great Recession?

It was the period of a recession that was observed in world economies between 2007 and 2009.

What was 2020 pandemic recession?

This recession was induced by the Coron-avirus lockdown that happened in 2020.

Both economic downturns differed in terms of the economy because the scopes with price and unemployment indices varied.

In conclusion, despite that the Great Recession and 2020 pandemic had different scopes, some lessons and public policies adopted could be useful for a faster economic recovery in the future.

Read more about Great Recession

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