A Particularly Severe or Protracted Recession Is Called A(n)

question 106

Multiple Choice

A particularly severe or protracted recession is called a(n)

• A) depression.
• B) boom.
• C) peak.
• D) expansion.
• E) trough.

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Definitions:

Sufficient Resources

The availability of adequate resources (including time, money, and manpower) to achieve a particular goal or complete a project.

Scarcity

A fundamental economic problem of having seemingly unlimited human wants in a world with limited resources.

Scarcity

A situation where limited resources are insufficient to satisfy all wants and needs.

Unlimited Income

A theoretical concept indicating there is no upper limit to an individual's or entity's income.