Which technically correctly describes a recession?
A)A period of declining real incomes and rising unemployment.
B)Occurring after six successive months of negative economic growth.
C)Occurring after two successive quarters of negative economic growth.
D)Any time when the rate of economic growth falls.

Question

Quizplus · Accepted Answer

A recession is defined as a period of two consecutive quarters of negative economic growth, which is a decline in GDP. This typically causes a decline in real incomes and an increase in unemployment. The other options are not accurate definitions of a recession.

Which Technically Correctly Describes a Recession