A Depression Is Defined as Two or More Successive Quarters

question 69

True/False

A depression is defined as two or more successive quarters of contraction of real GDP.

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Definitions:

Rises

An increase or upward movement in a specific parameter or value, often used in financial and economic contexts.

Price Range

The difference between the highest and lowest prices in a given market during a specific period of time.

Supply

The total amount of a good or service available for purchase at any given price level in a given market.

Inelastic

Describes a situation where the demand or supply for a good or service is not significantly changed by variations in price.