The National Bureau of Economic Research revised its definition of a recession in 2001 to read as follows: A recession is
A) two or more quarters of negative GDP growth.
B) a significant decline in economic activity spread across the economy and lasting more than a few months.
C) a decline in industrial production lasting more than one year.
D) a decline in the growth rate of real GDP by more than 2% in any one quarter.
Correct Answer:
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