A recession conventionally is defined as a decrease in
A)real GDP that lasts for at least six months.
B)the growth rate of real GDP that lasts for at least six months.
C)potential GDP that lasts for at least six months.
D)real GDP that lasts for at least three months.
E)the inflation rate that lasts for at least six months.

Question

Quizplus · Accepted Answer

A recession is commonly defined as a significant decline in economic activity, typically measured by a decrease in real GDP (gross domestic product) over two consecutive quarters or six months. This decline in economic activity is often accompanied by widespread unemployment, a drop in consumer spending, and a general slowdown in the economy. Therefore, choice A is the best answer.

A Recession Conventionally Is Defined as a Decrease in