The Big Difference Between the Great Recession and the Recession

question 70

Multiple Choice

The big difference between the Great Recession and the recession of 1982 was

• A) how the economy recovered after the recessions had officially ended.
• B) the increase in the unemployment rate that occurred during each recession.
• C) the quarterly real GDP growth rates at the official start of each recession.
• D) the length of each recession.
• E) the total decline in the economy during each recession.

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Definitions:

Conglomerate

A large corporation composed of diverse companies in various industries under a single corporate group, often achieved through mergers and acquisitions.

Interlock

A situation where members of the board of directors in one company also serve as members of the board in another company, potentially creating conflicts of interest.

Clayton Act

A U.S. legislation enacted in 1914 aimed at preventing anti-competitive practices in their incipiency, including prohibiting mergers and acquisitions that could reduce competition.

Corporate Officers

Executives or high-ranking officials within a corporation who are given authority to make decisions and oversee the day-to-day operations and strategic planning of the company.