A Sharp Reduction in a Nation's GDP for More Than

question 58

Multiple Choice

A sharp reduction in a nation's GDP for more than a year accompanied by high unemployment is a(n) ______.

• A) inflationary period
• B) economic bust
• C) depression
• D) economic boom
• E) recession

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Definitions:

Incremental Theorists

Individuals who believe that abilities and intelligence can grow and improve over time with effort and practice.

Status Quo Bias

The preference to maintain current circumstances or resist changes.

Changing

Refers to the process of making something different from what it was before.

Immediate Outcomes

The direct results or effects that occur as a consequence of an action or event.