When the overall level of business activity declines persistently, there is said to be
A)a revolution.
B)a hyperinflation.
C)a recession.
D)an expansion.

Question

Quizplus · Accepted Answer

A decline in overall business activity for a period of time is known as a recession. This can be characterized by a decrease in employment rates, production output, and consumption. The opposite of a recession is an expansion, wherein business activity increases. A revolution implies a major political and social upheaval, while hyperinflation refers to a situation of rapidly rising prices.

When the Overall Level of Business Activity Declines Persistently, There