Question Details

When a recession ends, the turning point that immediately follows is called a



1) A recession is commonly defined as occurring when
A) real GDP decreases for a period of 12 or more months.
B) real GDP decreases for a period of 6 or more months.
C) the unemployment rate rises above 7.5 percent for 6 or more months.
D) the unemployment rate rises above 5.0 percent for 12 or more months.
2) By common definition, a recession occurs when
A) the international deficit worsens for at least two successive quarters.
B) the government budget deficit exceeds the national debt.
C) the inflation rate exceeds 3.5 percent.
D) real GDP decreases for at least two successive quarters.
3) Recessions are commonly defined to occur
A) whenever unemployment increases.
B) when growth in real GDP decreases for two consecutive quarters.
C) when growth in real GDP is negative for two consecutive quarters.
D) when the unemployment rate exceeds 6 percent.

4) Real GDP decreases during
A) the movement from trough to peak.
B) the movement from below potential GDP back to potential GDP.
C) the movement from peak to trough.
D) a decrease in unemployment.

5) When a recession ends, the turning point that immediately follows is called a
A) trough.
B) peak.
C) depression.
D) None of the above answers is correct.




Economics Assignment Help, Economics Homework help, Economics Study Help, Economics Course Help