As a rule of thumb, a recession is
A) a fall in real GDP lasting at least one month.
B) a fall in real GDP lasting at least six months.
C) said to occur whenever real GDP falls below the long-term trend.
D) said to occur whenever real GDP falls below the long-term trend for at least one month.
E) a fall in real GDP lasting at least one year.
Correct Answer:
Verified
Q23: If real GDP and population are both
Q24: A recession that is very severe is
Q25: Which of the following statements is true?
A)If
Q26: Recessions in the United States have become
Q27: In terms of the decline in real
Q29: If real GDP is growing at a
Q30: The most recent recession officially started in
A)December
Q31: Everybody has benefited from the economic growth
Q32: Over the past 50 years, real GDP
Q33: Exhibit 17-1
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