If Real GDP Contracted by More Than 10%, Economists Would

question 16

Multiple Choice

If Real GDP contracted by more than 10%, economists would label that a

• A)Recession.
• B)Expansion.
• C)Recovery.
• D)Depression.

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Definitions:

Silicon Valley

A region in California known as a global center for high technology, innovation, and social media, home to many startups and global tech companies.

NeXT Computer

A technology company founded by Steve Jobs in 1985, known for its innovative computers and software development until it was acquired by Apple Inc. in 1996.

Eastern European

Relating to the eastern part of the European continent, which includes countries such as Poland, Hungary, and Romania, among others.

Communist Government

A form of government led by a single party that claims to follow Marxism-Leninism, where the state controls the means of production and there is an absence of privately owned property.