The Business Cycle Dating Committee Defines a Recession as

question 228

Multiple Choice

The Business Cycle Dating Committee defines a recession as

• A)two consecutive quarters of declining real GDP.
• B)two consecutive quarters of declining nominal GDP.
• C)a significant decline in activity visible in industrial production,employment,real income,and wholesale/retail trade lasting more than a few months.
• D)a significant decline in inflation and unemployment lasting more than a few months.

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Definitions:

Pearson Correlation

A measure of the linear correlation between two variables, quantifying the degree to which their movements are associated.

Approximate Normal

Describes a distribution that is close to, but not exactly, a normal distribution.

Sample Size

Refers to the number of observations or elements chosen from a population for the purpose of statistical analysis.

Approximate Normal

Describes data or distributions that are nearly, but not perfectly, normally distributed, exhibiting characteristics close to that of a bell-shaped curve.