A Common Definition of a Recession Is a Time with

question 121

Multiple Choice

A common definition of a recession is a time with

• A) a decline in the price level.
• B) a decline in interest rates.
• C) a decrease in real GDP for two or more successive quarters.
• D) a decrease in real GDP for two or more successive years.

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Definitions:

Criteria

Standards or principles by which something is judged or decisions are made.

Psychologically Healthy

Pertains to a state of mental and emotional well-being where an individual can use their cognitive and emotional capabilities, function in society, and meet the ordinary demands of everyday life.

Trait Theory

A psychological perspective that focuses on the identification and measurement of consistent personality characteristics (traits) that vary among individuals.

Allport

Refers to Gordon Allport, a psychologist known for his theory of personality that emphasized the uniqueness of the individual and the concept of personal traits.