Question

A decline in the real GDP that occurs for at least two or more quarters is called a _______. a. recession c. recovery b. depression d. peak Please select the best answer from the choices provided A B C D

Answer 1

A decline in the real GDP that occurs for at least two or more quarters is called a depression. The correct option among all the options that are given in the question is option "b". There is a very thin line of difference between recession and depression. when the real GDP falls for a repeated number of periods, then it is depression.