A widespread downturn in activity, usually indicated by successive periods of negative economic growth, is referred to as a:
A) purchasing power parity.
B) business cycle.
C) recession.
D) global crisis.

Question

Quizplus · Accepted Answer

A recession is defined as a significant decline in economic activity spread across the economy, lasting more than a few months, typically visible in real GDP, real income, employment, industrial production, and wholesale-retail sales. It is often recognized after two successive quarters of negative economic growth.

A Widespread Downturn in Activity, Usually Indicated by Successive Periods