Periods in which output and employment are falling in many industries are called:
A) recessions.
B) booms.
C) expansions.
D) deflations.

Question

Quizplus · Accepted Answer

Recessions are periods of significant decline in economic activity, typically characterized by falling output and employment levels in multiple industries. Booms and expansions refer to periods of economic growth, while deflation refers to a sustained decrease in the general price level of goods and services.

Periods in Which Output and Employment Are Falling in Many