A Recession Is Commonly Defined as a Period with

question 251

Multiple Choice

A recession is commonly defined as a period with

• A) negative growth rate in real GDP that lasts at least one quarter.
• B) positive growth rate in real GDP that lasts at least one quarter.
• C) positive growth rate in real GDP that lasts at least two quarters.
• D) negative growth rate in real GDP that lasts at least two quarters.

---

Definitions:

Dishonors

A term often related to financial instruments (like checks or promissory notes) that are not fulfilled as agreed upon, typically due to insufficient funds.

Collection Expected

This refers to the amount of money a business anticipates receiving from its customers who have purchased goods or services on credit.

Maturity Date

The date on which the principal amount of a loan, bond, or other financial instrument becomes due and payable.

Note Receivable

A written promise for amounts to be received by a creditor from a debtor, typically generating interest income for the holder.