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:

Pure Chase Strategy

A production strategy where the production rate is adjusted to match demand, minimizing inventory levels at the cost of potentially greater adjustment costs.

Part-Time Workers

Employees who work less than the standard full-time hours, typically offering flexibility and cost savings for businesses while accommodating the workers' other commitments.

Full-Time Workers

Employees who work the full number of hours defined as standard for a certain period, typically characterized by a fixed schedule.

Mixed Strategy

A planning strategy that uses two or more controllable variables to set a feasible production plan.