Examlex
Ability includes which of these?
Serious Recession
A significant period of economic decline across the economy that lasts more than a few months, typically evident in real GDP, real income, employment, industrial production, and wholesale-retail sales.
Constitutional Amendment
A formal change or addition to the constitution, requiring a specific procedure for proposal and ratification as outlined in the constitution itself.
Existing Recession
A period of temporary economic decline during which trade and industrial activity are reduced, already currently in place.
Balanced Budget
A Balanced Budget occurs when total revenues equal total expenses within a specific period, indicating financial stability without surplus or deficit.
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