What Is a Decline in Real GDP for at Least

question 25

Multiple Choice

What is a decline in real GDP for at least two consecutive quarters called?

• A) economic downsizing
• B) recession
• C) depression
• D) resource divestment

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Definitions:

Possession

The act of having or holding property in one's control; this can range from ownership of land to possession of items or goods.

Security Agreement

An agreement in which a debtor gives a secured interest to a secured party.

Collateral

The property that is subject to a secured interest.

Perfection

In finance and law, the process of securing a security interest in collateral through legal documentation and registration.