The Low Point of the Great Recession Happened in the Spring

question 92

Multiple Choice

The low point of the Great Recession happened in the spring of ​

• A)2008.
• B)2009.
• C)2010.
• D)2011.
• E)2012.

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Definitions:

Fixed Costs

Expenses that do not change in proportion to the activity of a business, such as rent, salaries, and insurance.

Variable Costs

Costs that change in proportion to the level of activity or volume of production.

Break-even Point

The point of business operation at which revenues equal expenses, resulting in no net loss or gain.

Variable Costs

Expenses that change in direct proportion to the amount of production or the volume of sales.