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What happens to economic output as measured by GDP during a recession? It contracts for one month It contracts for at least 6 months It contracts for at least 2 years It contracts for at least 5 years
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34 votes
34 votes
What happens to economic output as measured by GDP during a recession?

It contracts for one month
It contracts for at least 6 months
It contracts for at least 2 years
It contracts for at least 5 years in a row

User Keli
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1 Answer

15 votes
15 votes

Answer:

It contracts for at least 6 months

Explanation: GDP must fall for two consecutive quarters (6 months), meanwhile the unemployment rate will also rise between 6% and 10%.

User Christian Grabowski
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