A period of decline in economic activity lasting more than a few months is a(n) _____
A) expansion.
B) contraction.
C) depression.
D) recession.
E) fluctuation.

Question

Quizplus · Accepted Answer

A period of decline in economic activity lasting more than a few months is referred to as a recession. The other options are incorrect because an expansion refers to a period of economic growth, a contraction refers to a short-term decline in economic activity, a depression refers to an extended period of severe economic decline, and fluctuation simply refers to the ups and downs of the economy over time.

A Period of Decline in Economic Activity Lasting More Than