The NBER Describes a Recession as

Multiple Choice

The NBER describes a recession as

A) "a decrease in the standard of living for at least one year."
B) "a decrease in real GDP for two successive quarters."
C) "a period of significant decline in total output, income, employment, and trade, usually lasting from six months to a year."
D) "a decrease in potential GDP for at least six months."
E) "a one year period with increases in the unemployment rate."