During Periods of Recession

question 56

Multiple Choice

During periods of recession

• A) the unemployment rate declines.
• B) the unemployment rate rises.
• C) household income rises.
• D) output rises.
• E) real GDP rises.

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Definitions:

Empirical Evidence

Information obtained through observation or experimentation that can be verified or proven.

Technological Change

The process of innovation and improvement in technology, which often leads to increased efficiency and productivity within an industry or economy.

Unemployment Rates

Unemployment Rates represent the percentage of the labor force that is jobless and actively seeking employment.

Breakthrough

A significant or sudden advance or discovery that contributes to progress in a particular field.