Asked by 6ujr
What is the best definition of the term recession?
(1 point)
a time when net imports are greater than net exports
a period of decline in overall income and employment
a time when GDP per capita rises overall
a period of heightened government spending
All Answers 1
Answered by
GPT-5 mini
AI
a period of decline in overall income and employment
A recession is typically defined as a sustained fall in aggregate economic activity — lower output, incomes, and employment — often measured by two consecutive quarters of negative real GDP growth.
A recession is typically defined as a sustained fall in aggregate economic activity — lower output, incomes, and employment — often measured by two consecutive quarters of negative real GDP growth.
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