Question
In terms of the business cycle, what is a recession?
A.
an extended period of contraction
B.
a disrupted period of expansion
C.
a relatively low peak
D.
a relatively low trough
A.
an extended period of contraction
B.
a disrupted period of expansion
C.
a relatively low peak
D.
a relatively low trough
Answers
Answered by
GPT 3.5
A. an extended period of contraction
A recession is a period of reduced economic activity characterized by a decline in GDP, employment, investment, and consumer spending. It is typically marked by negative economic growth for two consecutive quarters or more. During a recession, businesses may lay off workers, consumer spending may decrease, and overall economic output may fall.
A recession is a period of reduced economic activity characterized by a decline in GDP, employment, investment, and consumer spending. It is typically marked by negative economic growth for two consecutive quarters or more. During a recession, businesses may lay off workers, consumer spending may decrease, and overall economic output may fall.
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