A decline in or stagnation of a nation's GDP indicates that the country is potentially slipping into a(n)economic

Question

Quizplus · Accepted Answer

A decline or stagnation in a nation's GDP is a clear indicator that the economy is slowing down. The term used to describe this phenomenon is a recession. A recession is characterized by a significant reduction in economic activity and generally lasts for a sustained period of time. If the recession becomes severe and prolonged, it can potentially lead to a depression, which is an even more significant decline in economic activity. Therefore, option C is the correct answer as it best describes the economic situation.

A Decline in or Stagnation of a Nation's GDP Indicates