A recession is a period during which
A)employment,production,and income decrease
B)the price level is increasing
C)inventories are falling dramatically
D)the unemployment rate is falling while the price level is rising
E)the government attempts to reduce a budget deficit by reducing taxes and increasing government spending

Question

Quizplus · Accepted Answer

A recession is characterized by a significant decline in economic activity, which includes decreased employment, production, and income. These factors lead to a decrease in consumer spending, further exacerbating the economic decline.

A Recession Is a Period During Which