| The New Dictionary of Cultural Literacy, Third Edition. 2002. |
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| depression |
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| A period of drastic decline in the national economy, characterized by decreasing business activity, falling prices, and unemployment. The best known of such periods is the Great Depression, which occurred in the 1930s. | 1 |
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| | | The New Dictionary of Cultural Literacy, Third Edition. Edited by E.D. Hirsch, Jr., Joseph F. Kett, and James Trefil. Copyright © 2002 by Houghton Mifflin Company. Published by Houghton Mifflin Company. All rights reserved. |
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