In the United States,recessions are informally defined as ________ in real GDP.
A) two consecutive quarters of negative growth
B) three consecutive quarters of negative growth
C) two consecutive quarters of positive growth
D) three consecutive quarters of positive growth

Question

Quizplus · Accepted Answer

Recessions are commonly defined as two consecutive quarters, or six months, of negative growth in real Gross Domestic Product (GDP). This means that the economy is producing less goods and services and experiencing a decline in economic activity. The National Bureau of Economic Research (NBER) is responsible for officially dating recessions and expansions in the United States.

In the United States,recessions Are Informally Defined as ________ in Real