Multiple Choice
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.
Correct Answer:
Verified
Correct Answer:
Verified
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