A Recession Is Commonly Defined as a Period with

question 251

Multiple Choice

A recession is commonly defined as a period with

• A) negative growth rate in real GDP that lasts at least one quarter.
• B) positive growth rate in real GDP that lasts at least one quarter.
• C) positive growth rate in real GDP that lasts at least two quarters.
• D) negative growth rate in real GDP that lasts at least two quarters.

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Definitions:

Sample Means

The average value of a set of data samples from a population.

Margin of Error

An expression of the amount of random sampling error in a survey's results, indicating how much the survey results might differ from the true population value.

Confidence Level

The probability that the true parameter will fall within the confidence interval, expressed as a percentage.

Sample Size

The number of observations or datapoints that are used in a statistical sample.