Two consecutive quarters of a decline in real gross domestic product is commonly used as a definition of
A) a depression.
B) a recession.
C) a cultural pitfall.
D) protectionism.
E) a joint venture.

Question

Quizplus · Accepted Answer

A recession is commonly defined as two consecutive quarters of a decline in real GDP. A depression is a more severe and prolonged recession. Cultural pitfalls, protectionism, and joint ventures are not related to this definition of a recession.

Two Consecutive Quarters of a Decline in Real Gross Domestic