Which of the Following Statements About Recessions Is True

question 45

Multiple Choice

Which of the following statements about recessions is true?

• A)An old rule of thumb defining recession is two consecutive quarters of falling nominal GDP.
• B)Recessions occur at regular intervals and last standard amounts of time.
• C)There is no ironclad rule for the declaration of recessions.
• D)Recessions are associated with low unemployment and high income.

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Definitions:

Plurality

In elections, a situation where the candidate who polls more votes than any other candidate is the winner, but does not necessarily receive a majority of all votes cast.

Representatives

Elected individuals who act on behalf of others within a legislative body, making decisions and voting on laws.

Indirect Voting

A voting process where citizens elect representatives who then vote on behalf of them in the selection of government officials or policy decisions.

Electoral College

A body of electors established by the United States Constitution, which formally selects the President and Vice President based on the popular vote in each state.