During Recessions, the Change in Real GDP Is

question 102

Multiple Choice

During recessions, the change in real GDP is:

• A)always positive.
• B)always negative.
• C)most often positive, but occasionally negative.
• D)most often negative, but occasionally positive.

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Definitions:

Substitute Goods

Products or services that can be used in place of one another, often influencing consumer choice.

Contract Price

The total agreed upon price specified in a contract that one party will pay to another for goods or services.

Code Remedies

Legal solutions or measures provided within a codified set of laws for the enforcement or redress of rights.

Breach of Contract

The failure to perform as specified in a contract without a legitimate legal excuse, which allows the other party to seek damages.