According to convention,a recession is referred to if an economy goes through
A)at least two consecutive quarters of negative growth.
B)at least three consecutive quarters of negative growth.
C)at least four quarters of negative growth.
D)at least two consecutive months of negative growth.

Question

Quizplus · Accepted Answer

The convention defines a recession as a period of at least two consecutive quarters of negative economic growth, which means a decline in the Gross Domestic Product (GDP) of a country for six months or more. This is considered the best choice because it is the most widely accepted definition of a recession. Option B, C, and D are incorrect because they do not accurately represent the conventional definition of a recession.

According to Convention,a Recession Is Referred to If an Economy