When Macroeconomists Use the Term "Recession" They Usually Define It

question 107

Multiple Choice

When macroeconomists use the term "recession" they usually define it as a fall in real GDP that lasts for at least

• A)one quarter.
• B)two quarters.
• C)three quarters.
• D)one year.
• E)two years.

---

Definitions:

Merchandiser

A business entity that purchases goods for resale at a profit, engaging in activities that include buying, storing, and selling merchandise.

Perpetual Inventory System

An accounting method where inventory levels are updated in real-time after every receipt or sale of items.

Physical Count

A method used in inventory management to ensure the actual number of physical goods matches the recorded inventory.

Inventory

The raw materials, work-in-progress goods, and finished products that a business holds for the purpose of sale in the ordinary course of business.