Which of the following is a period of decreasing output that is severe and long lasting?
A) business cycle
B) expansion
C) peak
D) recession
E) depression

Question

Quizplus · Accepted Answer

A depression is a severe and long-lasting period of decreasing output, characterized by high unemployment, low incomes, and a lack of economic growth. It is more severe than a recession, which is also a period of decreasing output but typically lasts for a shorter period of time.

Which of the Following Is a Period of Decreasing Output