Which of the following terms refers to a short period of falling incomes and rising unemployment?
A)depression
B)recession
C)expansion
D)business cycle

Question

Quizplus · Accepted Answer

A recession is a period of temporary economic decline, typically signaled by a decrease in GDP and a rise in unemployment. It is generally characterized by a decrease in consumer spending and business investment. A depression is a more severe and prolonged economic downturn, while an expansion is a period of economic growth. The business cycle refers to the regular pattern of alternating periods of growth and contraction in the economy.

Which of the Following Terms Refers to a Short Period