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The NBER's Business Cycle Dating Committee Defines a Recession as at Least

question 181

True/False

The NBER's Business Cycle Dating Committee defines a recession as at least two consecutive quarters of falling real GDP.


Definitions:

Significance Level

A threshold in hypothesis testing that determines the probability of rejecting a true null hypothesis, commonly represented by α.

Degrees of Freedom

A concept in statistics that represents the number of independent values or quantities which can be assigned to a statistical distribution.

Categories

Distinct groups or classes into which data or items can be classified.

Chi-square Test

A statistical test used to determine if there is a significant difference between the expected frequencies and the observed frequencies in one or more categories.

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