A Recession Occurs When the Economy Contracts by at Least

question 5

True/False

A recession occurs when the economy contracts by at least two percent in a quarter.

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Definitions:

Liquidate

To convert assets into cash, often in the context of closing a business or paying off debt.

Abstract Words

Abstract words represent concepts or ideas that do not have a physical form, making them subjective and often open to interpretation.

Attendance Record

Documentation or tracking of presence or absence of individuals from events, classes, meetings, or workplaces, often used for administrative, legal, or operational purposes.

Semi-automatic

Refers to a machine or process that requires partial human intervention amongst automated mechanisms.