Question

In the business cycle, a recession is defined by:

a
low GDP and high inflation for at least two consecutive quarters.
low GDP and employment for at least two consecutive quarters.
high inflation for at least two consecutive quarters.
low employment for at least two consecutive quarters.
low GDP for at least two consecutive quarters.

Answer 1

A recession is defined by low GDP for at least two consecutive quarters.

Step-by-step explanation:

In the business cycle, a recession is defined by low GDP for at least two consecutive quarters. A recession is characterized by a significant decline in economic activity, which is reflected in the decrease of the Gross Domestic Product (GDP). It is important to note that a recession does not necessarily involve high inflation or unemployment, although they may be associated with economic downturns.

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