A Recession Is Defined As

question 28

Multiple Choice

A recession is defined as:

• A)A three-quarter or longer decline in real overall output for the nation
• B)A two-quarter or longer decline in real overall output for the nation
• C)A three-quarter or longer decline in real industrial output for the nation
• D)A two-quarter or longer decline in real industrial output for the nation
• E)None of the above

---

Definitions:

Goodness Of Fit

A statistical analysis to determine how well sample data fit a distribution from a population with a normal distribution.

Regression Equation

The equation that describes how the mean or expected value of the dependent variable is related to the independent variable; in simple linear regression, E(y) = b0 + b1x.

Estimated Income

The projection or approximation of income over a specified future period, often based on historical data and current trends.

Estimated Regression Equation

An equation derived from regression analysis that predicts the dependent variable based on the independent variables.