When the GDP has declined for two or more consecutive quarters, this economic time is known as a(n) __________.

Name: When the GDP has declined for two or more consecutive quarters, this economic time is known as a(n) __________.
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A recession is defined as a decline in GDP for two or more consecutive quarters. A depression is a severe and prolonged recession. Inflation is a rise in prices over time, and the misery index is a measure of economic well-being that combines unemployment and inflation rates.

When the GDP Has Declined for Two or More Consecutive