The Business Cycle Dating Committee Defines a Recession as

question 228

Multiple Choice

The Business Cycle Dating Committee defines a recession as

• A)two consecutive quarters of declining real GDP.
• B)two consecutive quarters of declining nominal GDP.
• C)a significant decline in activity visible in industrial production,employment,real income,and wholesale/retail trade lasting more than a few months.
• D)a significant decline in inflation and unemployment lasting more than a few months.

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Definitions:

Pollution Control Technology

Systems, devices, or practices designed to reduce, eliminate, or manage pollutants emanating from human activity to protect the environment.

Chemical Waste

Hazardous substances produced as byproducts of manufacturing processes, laboratory experiments, or other industrial activities, requiring careful disposal to prevent environmental damage.

Oil Pollution Act

A law enacted in the United States aimed at preventing and responding to catastrophic oil spills, including the establishment of liabilities and penalties.

Discharges

Refers to the release, disposal, or emission of substances, particularly pollutants into the environment; also can refer to the fulfillment or cancellation of a financial obligation.