A recession:
A) occurs when personal incomes increase at a faster rate than price levels.
B) is a period of economic cutbacks for businesses and consumers.
C) is a period of economic growth.
D) is the period during which the economy is moving from recovery to prosperity.
E) occurs when price levels increase at a faster rate than personal incomes.

Question

Quizplus · Accepted Answer

A recession is characterized by economic cutbacks, affecting both businesses and consumers, leading to reduced spending, investment, and overall economic activity.

A Recession