A phase in the business cycle in which the decline in the economy's real GDP persists for at least half a year is known as:
A) a depression.
B) a recession.
C) a downtick.
D) disequilibrium.
E) limited demand.
Correct Answer:
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Q2: A business cycle is the period of
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Q7: Economic indicators (e.g. unemployment claims and the
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Q9: The point at which real output reaches
Q11: Which of the following is not a
Q13: Which of the following is a coincident
Q20: A recession is a decline in real
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