A common definition of a recession is a time with
A) a decline in the price level.
B) a decline in interest rates.
C) a decrease in real GDP for two or more successive quarters.
D) a decrease in real GDP for two or more successive years.
Correct Answer:
Verified
Q196: Potential GDP
A) measures the actual production from
Q197: Nominal GDP is the value of final
Q198: Potential GDP is
A) the maximum GDP that
Q199: Gross private domestic investment is a component
Q200: Potential GDP is
A) another name for real
Q202: A common definition of a recession is
Q203: The term "business cycle" most closely refers
Q204: In any year, real GDP
A) must always
Q205: The business cycle refers to
A) fluctuations in
Q206: Business cycles are
A) irregular, with some having
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