The newscast cited forecasts that national output might continue to fall in the future. If total output shows decline for two consecutive quarters, economists would classify this as a ________.
A) depression
B) retraction.
C) period of stagflation.
D) recession.

Question

Quizplus · Accepted Answer

A recession occurs when GDP (the nation's total output) declines for two consecutive quarters.

The Newscast Cited Forecasts That National Output Might Continue to Fall