Asked by Rajbeer Sandhu on Jun 13, 2024
Verified
In order for a recession to occur real GDP would have to fall for at least _____ business quarter(s) .
A) one
B) two
C) three
D) four
E) five
Real GDP
Gross Domestic Product adjusted for inflation, which accurately reflects the value of goods and services produced by an economy.
Business Quarter
A division of a year into four parts, each typically lasting three months, used in financial reporting and forecasting.
- Identify and describe the different phases of the business cycle.
Verified Answer
AK
Alyssa Kirsch
Jun 15, 2024
Final Answer :
B
Explanation :
A recession is typically defined as a decline in real GDP for two consecutive quarters.
Learning Objectives
- Identify and describe the different phases of the business cycle.