A Recession Is Commonly Defined as Occurring When

question 192

Multiple Choice

A recession is commonly defined as occurring when

• A) the unemployment rate rises above 7.5 percent for 6 or more months.
• B) real GDP decreases for a period of 6 or more months.
• C) the unemployment rate rises above 5.0 percent for 12 or more months.
• D) real GDP decreases for a period of 12 or more months.

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Definitions:

Volkswagen Of America

is the US subsidiary of the Volkswagen Group, a major German automaker, responsible for the sales, marketing, and service of Volkswagen and Audi vehicles in the United States.

Defective

Having a fault or flaw that impairs usability, quality, or safety, often used in the context of products or goods.

Magnuson-Moss Act

A federal law in the United States that was enacted to protect consumers from deceptive warranty practices.

Express Warranty

An explicit guarantee by a seller to a buyer that a product or service meets certain quality and performance standards.