A recession is commonly defined as occurring when
A) real GDP decreases for a period of 12 or more months.
B) real GDP decreases for a period of 6 or more months.
C) the unemployment rate rises above 7.5 percent for 6 or more months.
D) the unemployment rate rises above 5.0 percent for 12 or more months.

Question

Quizplus · Accepted Answer

A recession is commonly defined as a period when real GDP decreases for two consecutive quarters, which equates to 6 or more months.

A Recession Is Commonly Defined as Occurring When