When the United States experiences a slowdown in economic activity and GDP goes down for two consecutive quarters, it is called a(n) _______.
A) economic indicator
B) recession
C) deflation
D) inflation

Question

Quizplus · Accepted Answer

A recession is a significant decline in economic activity and GDP, typically lasting for two or more consecutive quarters. It is a widely recognized economic indicator of an economy in decline. Deflation and inflation refer to changes in the overall price level of goods and services in an economy, but they are not directly related to the occurrence of a recession.

When the United States Experiences a Slowdown in Economic Activity