Multiple Choice
Which of the following statements about recessions is true?
A) An old rule of thumb defining recession is two consecutive quarters of falling nominal GDP.
B) Recessions occur at regular intervals and last standard amounts of time.
C) There is no ironclad rule for the declaration of recessions.
D) Recessions are associated with low unemployment and high income.
Correct Answer:
Verified
Correct Answer:
Verified
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