As a Rule of Thumb, a Recession Is

question 23

Multiple Choice

As a rule of thumb, a recession is

• A)a fall in real GDP lasting at least one month.
• B)a fall in real GDP lasting at least six months.
• C)said to occur whenever real GDP falls below the long-term trend.
• D)said to occur whenever real GDP falls below the long-term trend for at least one month.
• E)a fall in real GDP lasting at least one year.

---

Definitions:

Senior Managers

Top-level executives responsible for overseeing the management and strategic direction of an organization.

Stability Strategy

A business strategy focused on maintaining the current state of operations and avoiding risk by seeking steady growth or consistent performance.

Merger

Two organizations combine resources and become one.

Turnaround

The process of implementing significant changes in a company to reverse poor performance and return to profitability.