When a Recession Ends

question 259

Multiple Choice

When a recession ends,

• A)interest rates decrease.
• B)households decrease spending on durable goods.
• C)the household sector decreases spending substantially.
• D)firms increase the amount of borrowing.
• E)households demand fewer products of all categories.

---

Definitions:

Conforming Goods

Products that meet the specifications and quality standards agreed upon in a contract.

Common Law

A legal system based on custom and court rulings, as opposed to written laws enacted by a legislative body.

Reasonable Period

An amount of time which is fairly necessary under circumstances for a specific action or event to take place, subject to interpretation based on context.

Obligation to Demand

Refers to a formal requirement or necessity to formally request or insist upon something, which can be part of contractual or legal proceedings.