Suppose that in 2025,the U.S.economy experiences a prolonged downturn,with unemployment rates peaking at 25 percent.What term would best describe this event?
A) A recession
B) A depression
C) An expansion
D) A progression

Question

Quizplus · Accepted Answer

A prolonged downturn with unemployment rates peaking at 25 percent indicates a severe and long-lasting economic decline, which is commonly referred to as a depression. A recession, on the other hand, is a milder economic downturn characterized by a decline in economic activity and typically accompanied by a rise in unemployment, but not to the extent of a depression. An expansion refers to a period of economic growth characterized by increasing economic output and decreasing unemployment, whereas a progression is not a commonly used economic term.

Suppose That in 2025,the U