A recession is a period of significant, widespread declines in:
A) real income and employment.
B) real income and unemployment.
C) exports and imports.
D) inflation and unemployment.

Question

Quizplus · Accepted Answer

A recession typically involves a general downturn in economic activity, which can lead to reduced real income levels for many people and increased unemployment rates. This is because during a recession, businesses may cut back on hiring or may even lay off workers in order to save money, and consumers may also reduce their spending. Overall, a recession is characterized by a slowing of economic growth and a decline in economic activity.

A Recession Is a Period of Significant, Widespread Declines In