A recession is defined as:
A. the minimum point in the business cycle before the recovery phase.
B. a fall in the natural rate of unemployment.
C. a rise in the natural rate of unemployment.
D. a fall in real GDP that lasts six months or longer.
Answer: D
Economics
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As the cost of operating ATM machines falls, the demand for bank tellers will decline
a. True b. False
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A good is characterized by network economies if it:
A. becomes more valuable as more people own it. B. is widely advertised on television. C. can be used by more than one person at a time. D. becomes cheaper to produce as more people buy it.
Economics