A Recession Is a Period When

question 30

Multiple Choice

A recession is a period when

• A)output growth is negative for two consecutive quarters
• B)actual output falls below potential output and the rate of unemployment falls below the high- employment benchmark.
• C)unemployment reaches 10 percent for an extended period of time.
• D)actual output falls below potential output and the rate of unemployment rises above the high-employment benchmark..

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Definitions:

Communications Revolution

A period marked by significant changes in communication technologies, including the advent of the Internet, mobile phones, and social media, dramatically altering the way information is disseminated and consumed.

Pony Express

A fast mail service crossing the North American continent from Missouri to California that operated from April 1860 to October 1861.

Taverns

Establishments serving as gathering places in communities for consuming alcoholic beverages and sometimes offering lodging and food, playing significant roles in social life historically.

Sample Space

The set of all experimental outcomes.