Multiple Choice
Which statement is TRUE about a recession?
A) It can be concentrated only in a single geographic area, but it must be widespread across many sectors of the economy within that area.
B) It must be a significant decline in economic activity that lasts for at least three years in a row.
C) It is a significant decline in economic activity lasting more than a few months and must be widespread geographically.
D) It can be a significant and widespread decline lasting only a month or two.
Correct Answer:
Verified
Correct Answer:
Verified
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