Economists Define a Recession as Two or More Consecutive Three-Month

question 114

True/False

Economists define a recession as two or more consecutive three-month periods of decline in a country's gross domestic product.

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Definitions:

Null Hypothesis

A statement used in statistics that proposes there is no significant difference or effect and that any observed differences are due to chance.

Population Variance

Population Variance is a measure of the dispersion of all the values in a population from the mean, highlighting how spread out the population data points are.

Standard Deviation

Indicates how dispersed the values in a data set are, relative to the mean of the set.

Chi-Square Values

Statistical measures used in hypothesis testing, especially to determine whether categorical variables are independent.