In order to be classified as a recession, a contraction of general economic activity must last at least
A)one period.
B)one year.
C)one quarter.
D)six months.
E)None of the above because recessions do not have a minimum length.

Question

Quizplus · Accepted Answer

A recession is typically defined as a period of economic decline lasting at least six months, characterized by a decrease in GDP, employment, and trade.

In Order to Be Classified as a Recession, a Contraction