The phase in the business cycle in which real GDP declines is called a:

Question

Quizplus · Accepted Answer

A decline in real GDP signals a recession, which is the phase in the business cycle where economic activity is slowing down and businesses are contracting. A trendline is a statistical tool used to identify and analyze patterns in market data over a period of time, but it is not directly related to the business cycle. A peak is the highest point of economic activity before a recession, while a recovery is the phase after a recession where economic activity starts to pick up again.

The Phase in the Business Cycle in Which Real GDP