A Recession Is Defined as a Period in Which

question 148

Multiple Choice

A recession is defined as a period in which

• A) cost-push inflation is present.
• B) nominal domestic output falls.
• C) demand-pull inflation is present.
• D) real domestic output falls.

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Definitions:

Sea-Surface Temperatures

The temperature of the ocean's surface, which influences climate and weather patterns.

El Niño

A climatic phenomenon occurring in the Pacific Ocean, characterized by unusually warm ocean temperatures in the Equatorial Pacific, affecting global weather patterns.

Eastern Pacific

A region of the Pacific Ocean bounded by the Americas to the east and the central and western parts of the ocean to the west, known for significant meteorological and oceanographic phenomena.

East Australian Current

A warm ocean current that flows from the tropical Coral Sea, southward along the eastern coast of Australia.