The Great Recession was different from other recessions since World War II in that:
A) real gross domestic product (GDP) initially declined and then recovered sometime later.
B) the trade deficit was largely unaffected.
C) the rate of unemployment increased and then decreased at a later time.
D) the decline in real GDP was much larger and lasted longer.
E) the economy did not return to normal for at least one year.

Question

Quizplus · Accepted Answer

The Great Recession was different from other recessions since World War II in that the decline in real GDP was much larger and lasted longer. The recession started in December 2007 and lasted until June 2009, making it the longest recession since World War II. Additionally, the decline in real GDP was much larger compared to other recessions, with a peak-to-trough decline of 4.3%.

The Great Recession Was Different from Other Recessions Since World