A period when the economy shrinks is known as
A) a recession.
B) a contraction.
C) a slump.
D) all of the above.

Name: A period when the economy shrinks is known as A) a recession. B) a contraction. C) a slump. D) all of the above.
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Question

Quizplus · Accepted Answer

All three terms (recession, contraction, and slump) are used to describe a period when the economy shrinks or experiences negative growth. Therefore, the best choice is D, which includes all of the above.

A Period When the Economy Shrinks Is Known as