What do we call a period in which GDP declines for at least two consecutive quarters?
A) expansion
B) recession
C) depression
D) trough

Question

Quizplus · Accepted Answer

A period in which GDP declines for at least two consecutive quarters is called a recession. Expansion refers to a period of economic growth, depression is a severe and prolonged recession, and trough refers to the lowest point in the economic cycle before a recovery begins.

What Do We Call a Period in Which GDP Declines