A recession is best described as
a. two quarters of negative growth of real GDP.
b. a significant decline in economic activity that is spread across the economy and lasts more than a few months.
c. a period when unemployment is high and rising.
d. a period when inflation is high and rising.
3 answers
b. a significant decline in economic activity that is spread across the economy and lasts more than a few months.
The first month of a recession is the month
a. following the trough.
b. following the peak.
c. before the peak.
d. before the trough.
a. following the trough.
b. following the peak.
c. before the peak.
d. before the trough.
b. following the peak.