An economy is officially in recession when:
A) the GDP increases for at least two consecutive years.
B) the GDP decreases for at least two consecutive years.
C) the market is in an especially deep and prolonged "trough".
D) the GDP decreases for at least two consecutive quarters.

Question

Quizplus · Accepted Answer

A recession is officially declared when there is a decrease in the Gross Domestic Product (GDP) for at least two consecutive quarters. This indicates a decline in economic activity and may result in job losses, decreased consumer spending, and other negative impacts on the economy.

An Economy Is Officially in Recession When