A common definition of a recession is a period of time
A) of at least 6 months during which real GDP decreases.
B) with an increase in real economic output from the previous period.
C) with no change in real GDP.
D) with no change in the dollar (money) value of economic output.

Question

Quizplus · Accepted Answer

A recession is typically defined as a period of at least six months (two consecutive quarters) during which there is a decline in real Gross Domestic Product (GDP).

A Common Definition of a Recession Is a Period of Time