A recession is defined as a widespread decline in:
A) real income (GDP).
B) inflation.
C) unemployment.
D) mortgage defaults.

Name: A recession is defined as a widespread decline in: A) real income (GDP). B) inflation. C) unemployment. D) mortgage defaults.
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Question

Quizplus · Accepted Answer

A recession is a period of economic contraction during which GDP, or real income, decreases. The other options may be affected by a recession but are not the defining characteristics of a recession.

A Recession Is Defined as a Widespread Decline In