The typical recession in the United States, if there is such a thing,
A) lasts for less than one year but costs roughly 10 percent of annual GDP.
B) sees GDP fall 5 percent below its potential for an average of two years.
C) lasts for almost exactly one year and costs roughly 10 percent of potential GDP.
D) sees GDP fall 10 percent below its potential for an average of almost three years.
E) none of the above.
Correct Answer:
Verified
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