A short period of falling incomes and rising unemployment is called a
A)depression.
B)recession.
C)expansion.
D)business cycle.

Question

Quizplus · Accepted Answer

A short period of falling incomes and rising unemployment is typically referred to as a recession. A depression is a more severe and prolonged period of economic decline with significant decreases in GDP, employment, and other economic indicators. An expansion is the opposite of a recession, characterized by rising incomes and decreasing unemployment. The business cycle refers to the natural fluctuation of economic activity over time, including periods of expansion, recession, and recovery.

A Short Period of Falling Incomes and Rising Unemployment Is