Periods in which production falls and unemployment rises are called
A) macroeconomic expansions.
B) business cycles.
C) recessions, or possibly, depressions.
D) inflation.

Question

Quizplus · Accepted Answer

Periods in which production falls and unemployment rises are typically referred to as recessions. If these periods are particularly severe or prolonged, they may be termed depressions.

Periods in Which Production Falls and Unemployment Rises Are Called