A Recession Is a Period During Which

question 20

Multiple Choice

A recession is a period during which

• A)nominal GDP declines for about two consecutive quarters.
• B)nominal GDP declines for about four consecutive quarters.
• C)real GDP declines for about two consecutive quarters.
• D)the GDP deflator declines for about four consecutive quarters.

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Definitions:

Hardiness

A personality trait characterized by resilience and the ability to endure stressful situations.

Consideration

The act of thinking carefully about something, especially when making decisions or forming opinions.

Commitment

A psychological state or an act of dedicating oneself to a cause, activity, or relationship, often implying a long-term engagement.

Control

The power to influence or direct people's behavior or the course of events.