PRC-3 · Chapter 15 · Question 37 of 44
When an economy suffers from at least two consecutive quarters of falling real GDP, rising bankruptcies, and increasing unemployment, it has officially entered a:
Test yourself: pick an answer
Reveal answer & explanation
Correct answer: C) Recession
Explanation
A recession is technically defined as a general economic contraction spanning two or more consecutive quarters of negative growth.
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