A Recession May Be Defined as

question 244

Multiple Choice

A recession may be defined as

• A) a period during which the rate of growth of business activity is consistently less than its long-term trend.
• B) an increase in real economic output from one period to the next.
• C) no change in real economic output over a period of time.
• D) no change in the dollar (money) value of economic output over a period of time.

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Definitions:

Countersignature

An additional signature required on a document, serving as a verification or approval of the primary signature.

Designated Date

A Designated Date is a specific date set for a particular event or action to take place.

Stop Payment Order

A request made to a bank by an account holder not to pay or cancel payment on a check or pre-authorized electronic payment that has not yet been processed.

Payee Name

Payee Name is the name of the individual or entity entitled to receive payment on a financial document, such as a check or transfer.