The gross domestic product (GDP) of Trelinberg, a South American nation, has been decreasing for the past eight years. The long period of consecutive decreases in the GDP has led to high unemployment rates in Trelinberg. In the given scenario, the economy of Trelinberg is most likely experiencing _____.

Question

Quizplus · Accepted Answer

A depression is characterized by a prolonged period of economic downturn, which includes a significant decline in GDP and high unemployment rates, matching the scenario described for Trelinberg.

The Gross Domestic Product (GDP) of Trelinberg, a South American