Economists usually use the term "recession" to refer to:
A. any slowdown in the growth of real GDP.
B. zero real GDP growth.
C. two or more consecutive quarters of declining real GDP.
D. a reduction in nominal GDP lasting more than six months.
Answer: C
Economics
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a. economic growth rate begins to diminish as capital deepening increases b. GDP per capita decreases as capital per unit of labor decreases c. the average cost of production decreases as output in an economy increases d. the marginal cost of production decreases as output in an economy increases
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The relationship between sales and revenue is
A) an inverse relationship. B) a direct relationship. C) a negative relationship. D) independent.
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