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If the city of Springfield has no growth in GMP over the span of 6 months, it is said to be in:

a. Economic stagnation
b. Recession
c. Economic equilibrium
d. Economic decline

User Dundo
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Final answer:

The city of Springfield with no growth in GMP over six months is experiencing economic stagnation, which is a lack of economic output growth, as opposed to a recession which involves a contraction in GDP.

Step-by-step explanation:

If the city of Springfield has no growth in Gross Metropolitan Product (GMP) over the span of 6 months, it is said to be in economic stagnation. Economic stagnation is characterized by a lack of growth in the economic output and can have symptoms similar to those of a stagnant economy, such as high unemployment and low productivity.

It is important to distinguish this from a recession, which is defined as two consecutive quarters, or roughly six months, of negative growth in Gross Domestic Product (GDP), a more widespread and severe economic decline. While both terms reflect issues within the economy, economic stagnation simply refers to a lack of growth rather than the contraction that signifies a recession.

User SeldomSeenSlim
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