A recession is a decline in:

Question

Quizplus · Accepted Answer

A recession is defined as a period of significant decline in economic activity, specifically in real GDP (gross domestic product). Real GDP measures the value of all goods and services produced in an economy, adjusted for inflation, so it provides a more accurate picture of economic growth than nominal GDP. A decline in real GDP that lasts for at least six months is considered a recession. Therefore, choice C - Real GDP that lasts six months or longer - is the best answer.

A Recession Is a Decline In