A Period During Which Aggregate Output Falls Is Known as A(n)

question 188

Multiple Choice

A period during which aggregate output falls is known as a(n)

• A) recession.
• B) inflation.
• C) hyperinflation.
• D) expansion.

---

Definitions:

Fair Pricing

The degree to which both businesses and customers believe that the pricing is reasonable.

Reasonable

Based on good sense and sound judgment; fair and sensible.

Skimming

A high pricing strategy, generally used for new products or services that face very little or even no competition.

No Competition

A market condition or business scenario where a company faces little to no competition in its industry or for its products.