144k views
5 votes
A recession is a period of two or more consecutive quarters of negative real gross domestic product growth and rising unemployment. True False Question 7 (1 point)

1 Answer

4 votes

Answer:

False

Step-by-step explanation:

A recession is generally defined as a period of significant economic decline, characterized by a decrease in real gross domestic product (GDP) over a sustained period of time. While negative GDP growth is a common indicator of a recession, it is not the only factor taken into consideration. In addition to negative GDP growth, recessions are often associated with rising unemployment rates, decreased consumer spending, and a contraction in business activity. These factors collectively contribute to a slowdown in economic growth and can have a significant impact on various sectors of the economy. It's important to note that the specific definition of a recession can vary depending on the source or the organization defining it. However, the generally accepted definition includes a combination of factors, such as negative GDP growth, rising unemployment, and other economic indicators.

User Igor Turman
by
8.3k points

No related questions found

Welcome to QAmmunity.org, where you can ask questions and receive answers from other members of our community.