By common definition, a recession occurs when
A) the international deficit worsens for at least two successive quarters.
B) real GDP decreases for at least two successive quarters.
C) the inflation rate exceeds 3.5 percent.
D) the government budget deficit exceeds the national debt.
Correct Answer:
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Q213: The low point of economic activity during
Q214: Business cycles are
A) predictable, with a recession
Q215: Which of the following is not a
Q216: The four parts of the business cycle
Q217: A common definition of a recession is
Q219: Real GDP
A) can be called potential GDP
Q220: The term ʺbusiness cycleʺ most closely refers
Q221: A trough is the
A) lower turning point
Q222: Suppose the country of Dingo experienced an
Q223: 
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