time of declining economic activity when businesses decrease production,unemployment rises,and many consumers have less money to spend is referred to as
A) deflation.
B) inflation.
C) prosperity.
D) a recession.
E) a depression.

Question

Quizplus · Accepted Answer

A recession is a time of declining economic activity characterized by a decrease in production, rising unemployment, and reduced consumer spending power. Deflation and inflation refer to changes in the overall level of prices, while prosperity refers to a period of economic growth and expansion. A depression is a severe and prolonged downturn in economic activity, similar to a recession but more severe.

Time of Declining Economic Activity When Businesses Decrease Production,unemployment Rises,and