The National Bureau of Economic Research Describes a Recession as

Multiple Choice

The National Bureau of Economic Research describes a recession as

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